ALX Oncology (NASDAQ:ALXO) Given New $2.20 Price Target at UBS Group

ALX Oncology (NASDAQ:ALXO) had its price target lowered by research analysts at UBS Group from $4.00 to $2.20 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 51.20% from the stock’s current price.

ALXO has been the subject of several other research reports. HC Wainwright reduced their price objective on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Friday. Finally, Jefferies Financial Group downgraded ALX Oncology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.05.

ALX Oncology Stock Down 4.0 %

NASDAQ:ALXO traded down $0.06 during mid-day trading on Monday, reaching $1.46. The stock had a trading volume of 208,101 shares, compared to its average volume of 1,201,917. 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 stock has a market cap of $76.74 million, a P/E ratio of -0.49 and a beta of 0.98. The business’s 50 day moving average is $1.62 and its 200 day moving average is $2.33. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83.

Insider Activity

In related news, Director Rekha Hemrajani purchased 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $1.55 per share, with a total value of $46,500.00. Following the purchase, the director now directly owns 33,000 shares in the company, valued at $51,150. The trade was a 1,000.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 14,443 shares of company stock valued at $23,309. 33.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ALX Oncology

Several large investors have recently bought and sold shares of ALXO. Renaissance Technologies LLC lifted its holdings in ALX Oncology by 87.2% during 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 in the last quarter. Hsbc Holdings PLC bought a new position in shares of ALX Oncology during the 2nd quarter valued at about $63,000. Marshall Wace LLP grew its position in shares of ALX Oncology by 423.0% in the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after purchasing an additional 514,133 shares during the period. Cubist Systematic Strategies LLC bought a new stake in ALX Oncology during the 2nd quarter worth approximately $1,203,000. Finally, AQR Capital Management LLC raised its holdings in ALX Oncology by 50.7% during the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after buying an additional 6,080 shares during the period. Institutional investors 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.