ALX Oncology (NASDAQ:ALXO) Receives “Buy” Rating from HC Wainwright

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 281.68% from the company’s previous close.

ALXO has been the topic of several other research reports. UBS Group dropped their price objective on ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research note on Monday, January 27th. Piper Sandler raised their price target on ALX Oncology from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group raised ALX Oncology from a “hold” rating to a “buy” rating and increased their target price for the stock from $2.00 to $3.00 in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.44.

ALX Oncology Trading Up 26.0 %

ALXO opened at $1.31 on Friday. The firm’s fifty day moving average is $1.40 and its two-hundred day moving average is $1.63. The firm has a market cap of $69.09 million, a PE ratio of -0.44 and a beta of 1.01. ALX Oncology has a twelve month low of $0.95 and a twelve month high of $17.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALXO. Privium Fund Management B.V. boosted its stake in shares of 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. Los Angeles Capital Management LLC acquired a new position in ALX Oncology during the third quarter valued at approximately $469,000. GSA Capital Partners LLP bought a new position in ALX Oncology in the third quarter valued at approximately $88,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of ALX Oncology by 207.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,042 shares of the company’s stock worth $151,000 after purchasing an additional 56,028 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in shares of ALX Oncology by 110.3% during the 3rd quarter. Walleye Capital LLC now owns 230,875 shares of the company’s stock worth $420,000 after purchasing an additional 121,113 shares in the last quarter. 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.