Redmile Group LLC Trims Stock Holdings in ALX Oncology Holdings Inc. (NASDAQ:ALXO)

Redmile Group LLC reduced its stake in ALX Oncology Holdings Inc. (NASDAQ:ALXO) by 5.0% during the 3rd quarter, Holdings Channel reports. The fund owned 3,836,576 shares of the company’s stock after selling 199,875 shares during the period. Redmile Group LLC owned about 0.07% of ALX Oncology worth $6,983,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ALXO. Vanguard Group Inc. lifted its position in ALX Oncology by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,566,464 shares of the company’s stock worth $17,466,000 after buying an additional 64,055 shares during the period. California State Teachers Retirement System lifted its position in ALX Oncology by 413.8% during the first quarter. California State Teachers Retirement System now owns 22,797 shares of the company’s stock worth $254,000 after buying an additional 18,360 shares during the period. Bank of New York Mellon Corp lifted its position in ALX Oncology by 31.6% during the second quarter. Bank of New York Mellon Corp now owns 104,966 shares of the company’s stock worth $633,000 after buying an additional 25,199 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ALX Oncology by 394.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after buying an additional 5,200 shares during the period. Finally, Privium Fund Management B.V. purchased a new position in ALX Oncology during the second quarter worth about $2,271,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

ALX Oncology Stock Performance

Shares of NASDAQ:ALXO opened at $1.56 on Thursday. The firm has a market capitalization of $82.27 million, a PE ratio of -0.52 and a beta of 1.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. The business has a 50-day moving average of $1.52 and a two-hundred day moving average of $4.17. ALX Oncology Holdings Inc. has a 12 month low of $1.19 and a 12 month high of $17.83.

Insider Activity

In related news, Director Rekha Hemrajani bought 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was acquired at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the director now owns 33,000 shares in the company, valued at $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 33.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a research report on Tuesday, August 13th. UBS Group reduced their target price on ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus restated a “hold” rating and set a $3.00 price target (down from $5.00) on shares of ALX Oncology in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.50.

ALX Oncology Profile

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.