ALX Oncology (NASDAQ:ALXO) Price Target Lowered to $2.20 at UBS Group

ALX Oncology (NASDAQ:ALXO) had its price objective cut by UBS Group from $4.00 to $2.20 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 51.20% from the stock’s current price.

ALXO has been the subject of a number of other research reports. HC Wainwright reduced their price objective on ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group downgraded shares of ALX Oncology from a “buy” rating to a “hold” rating and reduced their price target for the company from $12.00 to $2.00 in a report on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Friday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.05.

ALX Oncology Stock Performance

NASDAQ ALXO traded down $0.06 during trading hours on Monday, reaching $1.46. The company’s stock had a trading volume of 208,101 shares, compared to its average volume of 1,201,917. The stock has a market cap of $76.74 million, a PE ratio of -0.49 and a beta of 0.98. The business has a 50-day simple moving average of $1.62 and a 200 day simple moving average of $2.33. ALX Oncology has a 52 week low of $1.19 and a 52 week 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.

Insider Activity at ALX Oncology

In other ALX Oncology news, Director Rekha Hemrajani bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was acquired 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 trade represents a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 14,443 shares of company stock worth $23,309 over the last quarter. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ALX Oncology

Large investors have recently modified their holdings of the stock. Marshall Wace LLP boosted its position 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. Privium Fund Management B.V. increased its position in shares of ALX Oncology by 28.2% in the third quarter. Privium Fund Management B.V. now owns 509,059 shares of the company’s stock worth $926,000 after acquiring an additional 112,093 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of ALX Oncology by 87.2% during the second quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock valued at $2,642,000 after acquiring an additional 204,100 shares during the period. XTX Topco Ltd purchased a new stake in shares of ALX Oncology in the 3rd quarter valued at approximately $578,000. Finally, Point72 Asset Management L.P. acquired a new position in ALX Oncology in the 2nd quarter worth approximately $1,834,000. 97.97% of the stock is owned by institutional investors.

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.