UBS Group Issues Pessimistic Forecast for ALX Oncology (NASDAQ:ALXO) Stock Price

ALX Oncology (NASDAQ:ALXO) had its target price decreased by UBS Group from $4.00 to $2.20 in a report released on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright cut their price objective on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a report on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Finally, Jefferies Financial Group lowered ALX Oncology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $2.00 in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.05.

ALX Oncology Trading Down 4.6 %

Shares of ALX Oncology stock opened at $1.46 on Monday. The stock has a market cap of $77.00 million, a PE ratio of -0.49 and a beta of 0.98. The firm has a fifty day moving average price of $1.63 and a 200 day moving average price of $2.25. ALX Oncology has a 1 year low of $1.19 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82.

Insider Buying and Selling

In related news, Director Rekha Hemrajani purchased 30,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were bought at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the acquisition, the director now directly owns 33,000 shares in the company, valued at $51,150. This trade represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 14,443 shares of company stock valued at $23,309. 33.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALXO. Marshall Wace LLP raised its holdings in shares of ALX Oncology by 423.0% in the second quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after buying an additional 514,133 shares during the last quarter. Privium Fund Management B.V. raised its position in ALX Oncology by 28.2% during the 3rd quarter. Privium Fund Management B.V. now owns 509,059 shares of the company’s stock worth $926,000 after buying an additional 112,093 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of ALX Oncology by 87.2% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in ALX Oncology in the third quarter valued at about $578,000. Finally, Point72 Asset Management L.P. purchased a new stake in ALX Oncology in the 2nd quarter valued at approximately $1,834,000. Hedge funds and other institutional investors 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.