ALX Oncology (NASDAQ:ALXO) Price Target Cut to $5.00 by Analysts at HC Wainwright

ALX Oncology (NASDAQ:ALXO) had its price objective decreased by stock analysts at HC Wainwright from $25.00 to $5.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 206.75% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and dropped their price target for the company from $12.00 to $2.00 in a report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.50.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO opened at $1.63 on Friday. ALX Oncology has a 12 month low of $1.19 and a 12 month high of $17.83. The stock has a market cap of $85.97 million, a price-to-earnings ratio of -0.55 and a beta of 0.98. The stock’s 50 day moving average price is $1.61 and its 200 day moving average price is $2.42. 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 Activity

In other ALX Oncology news, Director Rekha Hemrajani acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the acquisition, the director now owns 33,000 shares of the company’s stock, valued at approximately $51,150. This trade represents a 1,000.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 14,443 shares of company stock worth $23,309 in the last ninety days. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in ALX Oncology by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock worth $333,000 after acquiring an additional 5,360 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ALX Oncology by 87.2% during the second quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock valued at $2,642,000 after buying an additional 204,100 shares during the last quarter. Hsbc Holdings PLC bought a new stake in ALX Oncology in the second quarter valued at about $63,000. Marshall Wace LLP increased its stake in 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 acquiring an additional 514,133 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in ALX Oncology in the second quarter valued at about $1,203,000. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Company 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.