HC Wainwright Has Lowered Expectations for ALX Oncology (NASDAQ:ALXO) Stock Price

ALX Oncology (NASDAQ:ALXO) had its target price lowered by equities research analysts at HC Wainwright from $25.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 230.03% from the company’s previous close. HC Wainwright also issued estimates for ALX Oncology’s FY2029 earnings at $0.63 EPS.

ALXO has been the topic of a number of other reports. Jefferies Financial Group downgraded shares of ALX Oncology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.50.

ALX Oncology Trading Down 7.1 %

NASDAQ ALXO opened at $1.52 on Friday. The stock has a market cap of $79.90 million, a PE ratio of -0.51 and a beta of 0.98. ALX Oncology has a 12 month low of $1.19 and a 12 month high of $17.83. The company’s 50-day moving average price is $1.62 and its 200-day moving average price is $2.39. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

Insider Transactions at ALX Oncology

In other ALX Oncology news, Director Rekha Hemrajani acquired 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the acquisition, the director now owns 33,000 shares in the company, valued at approximately $51,150. This trade represents a 1,000.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 14,443 shares of company stock valued at $23,309 in the last 90 days. Insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALXO. Marshall Wace LLP boosted its holdings in ALX Oncology by 423.0% in the second quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock worth $3,833,000 after acquiring an additional 514,133 shares in the last quarter. Privium Fund Management B.V. raised its position in shares of ALX Oncology by 28.2% in the 3rd quarter. Privium Fund Management B.V. now owns 509,059 shares of the company’s stock valued at $926,000 after purchasing an additional 112,093 shares during the last quarter. Renaissance Technologies LLC boosted its stake in ALX Oncology by 87.2% in the 2nd quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock worth $2,642,000 after purchasing an additional 204,100 shares in the last quarter. XTX Topco Ltd purchased a new stake in ALX Oncology during the 3rd quarter worth approximately $578,000. Finally, Point72 Asset Management L.P. acquired a new position in ALX Oncology during the 2nd quarter valued at approximately $1,834,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

ALX Oncology Company Profile

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for cancer patients in the United States. The company's lead product candidate is Evorpacept, a CD47 blocking therapeutic biologic in development as a combination therapy with other anti-cancer agents, including ASPEN-06, under Phase 2 clinical study for treating Gastric/GEJ cancer; ASPEN-07, under Phase 1 clinical study for treating urothelial cancer; and ASPEN-03 and ASPEN-04, both under Phase 2 clinical study for treating head and neck squamous cell carcinoma.