HC Wainwright Lowers ALX Oncology (NASDAQ:ALXO) Price Target to $5.00

ALX Oncology (NASDAQ:ALXO) had its price objective cut by HC Wainwright from $25.00 to $5.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on ALXO. Jefferies Financial Group lowered ALX Oncology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $2.00 in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, ALX Oncology has a consensus rating of “Moderate Buy” and an average price target of $3.50.

ALX Oncology Price Performance

Shares of NASDAQ ALXO opened at $1.52 on Friday. ALX Oncology has a twelve month low of $1.19 and a twelve month high of $17.83. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $79.90 million, a price-to-earnings ratio of -0.51 and a beta of 0.98. The business has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $2.42.

Insiders Place Their Bets

In other ALX Oncology news, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology stock in a transaction on Monday, December 2nd. The stock was bought at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the transaction, the director now owns 33,000 shares of the company’s stock, valued at $51,150. The trade was a 1,000.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 14,443 shares of company stock worth $23,309. 33.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALXO. Rhumbline Advisers boosted 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 period. Renaissance Technologies LLC boosted its position in ALX Oncology by 87.2% during the 2nd quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock worth $2,642,000 after acquiring an additional 204,100 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of ALX Oncology in the second quarter valued at $63,000. Marshall Wace LLP lifted 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 period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ALX Oncology in the second quarter valued at $1,203,000. 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.