HC Wainwright Cuts ALX Oncology (NASDAQ:ALXO) Price Target to $2.00

ALX Oncology (NASDAQ:ALXO) had its target price lowered by stock analysts at HC Wainwright from $5.00 to $2.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 373.60% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus reduced their price target on ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a research report on Friday, March 7th. Jefferies Financial Group raised ALX Oncology from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.00 to $3.00 in a research report on Thursday, March 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Piper Sandler raised their target price on shares of ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, March 6th. Finally, UBS Group lowered their target price on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.54.

ALX Oncology Trading Down 8.2 %

NASDAQ:ALXO opened at $0.42 on Friday. The company has a market capitalization of $22.55 million, a P/E ratio of -0.14 and a beta of 1.21. The stock’s 50 day moving average price is $0.64 and its 200 day moving average price is $1.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ALX Oncology has a 52 week low of $0.41 and a 52 week high of $16.97.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.11). On average, research analysts forecast that ALX Oncology will post -2.76 EPS for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

Several large investors have recently bought and sold shares of ALXO. Two Sigma Investments LP boosted its holdings in ALX Oncology by 6.7% in the 4th quarter. Two Sigma Investments LP now owns 704,131 shares of the company’s stock valued at $1,176,000 after purchasing an additional 44,072 shares during the period. Two Sigma Advisers LP lifted its stake in shares of ALX Oncology by 64.6% in the fourth quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock valued at $1,376,000 after buying an additional 323,400 shares during the period. Nuveen Asset Management LLC grew its position in ALX Oncology by 55.6% during the fourth quarter. Nuveen Asset Management LLC now owns 164,790 shares of the company’s stock worth $275,000 after buying an additional 58,896 shares in the last quarter. Deutsche Bank AG raised its holdings in ALX Oncology by 521.0% in the 4th quarter. Deutsche Bank AG now owns 101,113 shares of the company’s stock valued at $169,000 after acquiring an additional 84,830 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of ALX Oncology in the 4th quarter worth approximately $125,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.