ALX Oncology (NASDAQ:ALXO) Downgraded to “Hold” at Lifesci Capital

Lifesci Capital cut shares of ALX Oncology (NASDAQ:ALXO) from a strong-buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald reiterated an overweight rating on shares of ALX Oncology in a report on Wednesday, May 29th. Stifel Nicolaus decreased their target price on shares of ALX Oncology from $14.00 to $5.00 and set a hold rating for the company in a report on Thursday. Finally, HC Wainwright reiterated a buy rating and issued a $25.00 target price on shares of ALX Oncology in a report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, ALX Oncology currently has a consensus rating of Moderate Buy and an average price target of $18.17.

ALX Oncology Stock Up 2.1 %

Shares of NASDAQ:ALXO opened at $2.86 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.21 and a current ratio of 5.21. ALX Oncology has a 1-year low of $2.51 and a 1-year high of $17.83. The company’s fifty day moving average is $7.25 and its two-hundred day moving average is $11.82. The stock has a market capitalization of $149.01 million, a price-to-earnings ratio of -0.77 and a beta of 1.06.

ALX Oncology (NASDAQ:ALXO) last announced its earnings results on Thursday, May 9th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.16. Equities analysts anticipate that ALX Oncology will post -2.89 EPS for the current year.

Insider Buying and Selling at ALX Oncology

In other ALX Oncology news, insider Jaume Pons sold 20,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $15.92, for a total transaction of $318,400.00. Following the transaction, the insider now owns 604,205 shares in the company, valued at $9,618,943.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Peter S. Garcia acquired 12,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the completion of the purchase, the chief financial officer now owns 122,348 shares in the company, valued at approximately $1,043,628.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $15.92, for a total transaction of $318,400.00. Following the sale, the insider now owns 604,205 shares in the company, valued at approximately $9,618,943.60. The disclosure for this sale can be found here. Insiders have sold a total of 78,469 shares of company stock worth $873,346 over the last 90 days. Insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALXO. Vestal Point Capital LP bought a new position in shares of ALX Oncology during the fourth quarter valued at $24,643,000. Redmile Group LLC lifted its position in shares of ALX Oncology by 18.2% during the first quarter. Redmile Group LLC now owns 4,326,509 shares of the company’s stock worth $48,241,000 after purchasing an additional 667,245 shares in the last quarter. Privium Fund Management B.V. acquired a new stake in shares of ALX Oncology in the second quarter valued at approximately $2,271,000. TD Asset Management Inc bought a new position in ALX Oncology in the 4th quarter worth approximately $1,048,000. Finally, abrdn plc acquired a new position in ALX Oncology during the 4th quarter worth $986,000. 97.97% of the stock is owned by institutional investors.

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.