ALX Oncology (NASDAQ:ALXO) Rating Lowered to Sell at Wall Street Zen

ALX Oncology (NASDAQ:ALXO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other equities analysts also recently commented on the stock. HC Wainwright decreased their price objective on shares of ALX Oncology from $5.00 to $2.00 and set a “buy” rating for the company in a report on Friday, May 9th. Jefferies Financial Group raised shares of ALX Oncology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $3.00 in a report on Thursday, March 6th. UBS Group decreased their price objective on shares of ALX Oncology from $1.20 to $1.00 and set a “buy” rating for the company in a report on Wednesday, May 21st. Stifel Nicolaus decreased their price objective on shares of ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a report on Friday, March 7th. Finally, Piper Sandler lifted their price objective on shares of ALX Oncology from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ALX Oncology presently has a consensus rating of “Moderate Buy” and an average target price of $3.30.

ALX Oncology Trading Up 10.3%

Shares of ALXO stock opened at $0.58 on Friday. The stock has a market cap of $30.92 million, a price-to-earnings ratio of -0.19 and a beta of 1.16. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a fifty-two week low of $0.41 and a fifty-two week high of $9.04. The firm’s 50 day moving average price is $0.51 and its two-hundred day moving average price is $1.05.

ALX Oncology (NASDAQ:ALXO) last announced 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, analysts anticipate that ALX Oncology will post -2.76 EPS for the current year.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares during the period. AQR Capital Management LLC boosted its holdings in shares of ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after acquiring an additional 77,065 shares during the period. Almitas Capital LLC boosted its holdings in shares of ALX Oncology by 10.6% during the first quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock valued at $843,000 after acquiring an additional 130,196 shares during the period. Nuveen LLC acquired a new position in shares of ALX Oncology during the first quarter valued at $103,000. Finally, Invesco Ltd. acquired a new stake in ALX Oncology in the first quarter worth about $46,000. Institutional investors and hedge funds 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.