ALX Oncology (NASDAQ:ALXO) Downgraded by Jefferies Financial Group to “Hold”

ALX Oncology (NASDAQ:ALXO) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat reports. They presently have a $2.00 target price on the stock, down from their prior target price of $12.00. Jefferies Financial Group’s target price suggests a potential upside of 23.46% from the stock’s previous close.

ALXO has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of ALX Oncology in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Wednesday. 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.com, ALX Oncology has an average rating of “Moderate Buy” and an average price target of $8.50.

ALX Oncology Stock Up 9.5 %

Shares of NASDAQ ALXO opened at $1.62 on Thursday. The stock has a market cap of $85.44 million, a P/E ratio of -0.54 and a beta of 1.04. The business’s fifty day simple moving average is $1.49 and its 200-day simple moving average is $3.32. ALX Oncology has a 12-month low of $1.19 and a 12-month high of $17.83. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

Insiders Place Their Bets

In related news, Director Rekha Hemrajani bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average cost of $1.55 per share, with a total value of $46,500.00. Following the transaction, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $51,150. This represents a 1,000.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 33.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ALX Oncology

A number of institutional investors and hedge funds have recently bought and sold shares of ALXO. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ALX Oncology by 394.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after purchasing an additional 5,200 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of ALX Oncology in the 2nd quarter valued at about $63,000. AQR Capital Management LLC grew its stake in ALX Oncology by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after buying an additional 6,080 shares during the last quarter. SG Americas Securities LLC increased its position in ALX Oncology by 33.6% during the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after buying an additional 6,888 shares during the period. Finally, Algert Global LLC purchased a new stake in ALX Oncology in the second quarter valued at approximately $249,000. 97.97% of the stock is 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.