UBS Group Lowers ALX Oncology (NASDAQ:ALXO) Price Target to $4.00

ALX Oncology (NASDAQ:ALXO) had its target price cut by analysts at UBS Group from $25.00 to $4.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 49.81% from the company’s previous close.

Several other research firms have also commented on ALXO. Stifel Nicolaus reiterated a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. Lifesci Capital downgraded shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research note on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of ALX Oncology in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

ALX Oncology Price Performance

NASDAQ ALXO traded up $0.02 during trading hours on Friday, hitting $2.67. 148,065 shares of the company’s stock traded hands, compared to its average volume of 816,527. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.21 and a quick ratio of 5.21. The firm’s 50-day moving average is $5.85 and its 200-day moving average is $11.14. ALX Oncology has a 52-week low of $2.42 and a 52-week high of $17.83. The company has a market capitalization of $139.11 million, a PE ratio of -0.71 and a beta of 1.06.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.01. Equities analysts forecast that ALX Oncology will post -2.89 EPS for the current fiscal year.

Insider Transactions at ALX Oncology

In related news, CFO Peter S. Garcia acquired 12,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $8.53 per share, with a total value of $102,360.00. Following the transaction, the chief financial officer now owns 122,348 shares of the company’s stock, valued at approximately $1,043,628.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $8.43, for a total value of $168,600.00. Following the completion of the transaction, the insider now owns 604,205 shares of the company’s stock, valued at $5,093,448.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter S. Garcia bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost 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 $1,043,628.44. The disclosure for this purchase can be found here. In the last three months, insiders have sold 46,469 shares of company stock worth $363,666. 33.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ALX Oncology

Institutional investors have recently modified their holdings of the business. Redmile Group LLC grew its stake in ALX Oncology by 18.2% during the 1st 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. Vestal Point Capital LP acquired a new position in shares of ALX Oncology during the fourth quarter worth about $24,643,000. Vanguard Group Inc. increased its stake in shares of 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. Marshall Wace LLP raised its holdings 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in ALX Oncology by 87.2% in the second 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 last quarter. 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.