ALX Oncology (NASDAQ:ALXO) Price Target Cut to $2.20 by Analysts at UBS Group

ALX Oncology (NASDAQ:ALXO) had its target price dropped by UBS Group from $4.00 to $2.20 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 43.79% from the company’s current price.

ALXO has been the subject of several other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. HC Wainwright cut their price target on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group lowered shares of ALX Oncology from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $2.00 in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.05.

ALX Oncology Stock Down 1.6 %

ALXO stock opened at $1.53 on Monday. ALX Oncology has a twelve month low of $1.19 and a twelve month high of $17.83. The firm has a market capitalization of $80.69 million, a PE ratio of -0.51 and a beta of 0.98. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $1.62 and a two-hundred day simple moving average of $2.29.

Insider Buying and Selling

In related news, Director Rekha Hemrajani purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average cost of $1.55 per share, with a total value of $46,500.00. Following the completion of the purchase, the director now directly owns 33,000 shares in the company, valued at approximately $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 14,443 shares of company stock valued at $23,309 over the last ninety days. 33.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP lifted its stake in shares of ALX Oncology by 423.0% in the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after purchasing an additional 514,133 shares during the period. XTX Topco Ltd bought a new position in ALX Oncology in the third quarter worth $578,000. Point72 Asset Management L.P. purchased a new position in ALX Oncology during the second quarter valued at $1,834,000. Los Angeles Capital Management LLC bought a new stake in shares of ALX Oncology during the 3rd quarter valued at $469,000. Finally, Renaissance Technologies LLC grew its position in shares of 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 buying an additional 204,100 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About ALX Oncology

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.