ALX Oncology Holdings Inc. (NASDAQ:ALXO) Receives $8.50 Consensus Price Target from Analysts

Shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.50.

Several analysts have recently weighed in on ALXO shares. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of ALX Oncology in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group downgraded shares of ALX Oncology from a “buy” rating to a “hold” rating and decreased their price objective for the company from $12.00 to $2.00 in a research note on Thursday, December 19th.

ALX Oncology Price Performance

ALXO stock opened at $1.74 on Friday. The stock has a market cap of $91.77 million, a price-to-earnings ratio of -0.58 and a beta of 0.98. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83. 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 business has a 50 day moving average price of $1.59 and a 200 day moving average price of $2.51.

Insider Activity

In related news, Director Rekha Hemrajani purchased 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average price of $1.55 per share, with a total value of $46,500.00. Following the completion of the acquisition, the director now directly owns 33,000 shares in the company, valued at $51,150. This represents a 1,000.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 14,443 shares of company stock valued at $23,309 in the last ninety days. 33.40% of the stock is currently owned by company insiders.

Institutional Trading of ALX Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew 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 last quarter. XTX Topco Ltd acquired a new stake in shares of ALX Oncology during the third quarter worth $578,000. Point72 Asset Management L.P. acquired a new stake in shares of ALX Oncology during the second quarter worth $1,834,000. Los Angeles Capital Management LLC purchased a new position in ALX Oncology in the 3rd quarter valued at $469,000. Finally, Renaissance Technologies LLC increased 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 valued at $2,642,000 after buying an additional 204,100 shares during the period. 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.