UBS Group Issues Pessimistic Forecast for ALX Oncology (NASDAQ:ALXO) Stock Price

ALX Oncology (NASDAQ:ALXO) had its price objective dropped by investment analysts at UBS Group from $4.00 to $2.20 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 43.79% from the company’s current price.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Jefferies Financial Group downgraded ALX Oncology from a “buy” rating to a “hold” rating and reduced their target price for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. Finally, HC Wainwright cut their price target on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.05.

ALX Oncology Price Performance

ALXO stock opened at $1.53 on Monday. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm has a market cap of $80.69 million, a price-to-earnings ratio of -0.51 and a beta of 0.98. The company’s fifty day simple moving average is $1.62 and its 200 day simple moving average is $2.29. ALX Oncology has a 12-month low of $1.19 and a 12-month high of $17.83.

Insider Buying and Selling at ALX Oncology

In other ALX Oncology news, Director Rekha Hemrajani bought 30,000 shares of ALX Oncology 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 completion of the acquisition, the director now directly owns 33,000 shares in the company, valued at approximately $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 hyperlink. In the last three months, insiders have sold 14,443 shares of company stock worth $23,309. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of ALX Oncology by 243.6% during the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock worth $107,000 after purchasing an additional 42,185 shares during the last quarter. Point72 Asset Management L.P. bought a new position in ALX Oncology during the second quarter valued at $1,834,000. GSA Capital Partners LLP purchased a new stake in ALX Oncology in the third quarter worth $88,000. Marshall Wace LLP raised its stake 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, SG Americas Securities LLC lifted its position in shares of ALX Oncology by 33.6% during the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock valued at $50,000 after buying an additional 6,888 shares during the last quarter. 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.