ALX Oncology (NASDAQ:ALXO) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group lowered shares of ALX Oncology (NASDAQ:ALXO) from a buy rating to a hold rating in a research note released on Thursday morning, MarketBeat reports. The brokerage currently has $2.00 price target on the stock, down from their previous price target of $12.00.

A number of other analysts have also weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of ALX Oncology in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

ALX Oncology Stock Performance

ALXO stock opened at $1.48 on Thursday. The company has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $3.37. The company has a market capitalization of $78.06 million, a P/E ratio of -0.50 and a beta of 1.04. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83.

Insider Transactions at ALX Oncology

In related news, Director Rekha Hemrajani acquired 30,000 shares of the business’s stock in a transaction dated 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 approximately $51,150. The trade was a 1,000.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after purchasing an additional 5,200 shares during the period. Rhumbline Advisers lifted its stake in ALX Oncology by 10.8% during the second quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock valued at $333,000 after buying an additional 5,360 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of ALX Oncology by 50.7% in the second 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. SG Americas Securities LLC increased its position in shares of ALX Oncology by 33.6% in the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after acquiring an additional 6,888 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of ALX Oncology during the second quarter valued at approximately $63,000. 97.97% of the stock is owned by institutional investors and hedge funds.

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.