UBS Group Cuts ALX Oncology (NASDAQ:ALXO) Price Target to $1.00

ALX Oncology (NASDAQ:ALXO) had its price target trimmed by UBS Group from $1.20 to $1.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on the stock. Piper Sandler lifted their price target on shares of ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Friday, January 24th. Stifel Nicolaus decreased their price target on ALX Oncology from $3.00 to $1.50 and set a “hold” rating on the stock in a research note on Friday, March 7th. Jefferies Financial Group raised ALX Oncology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $3.00 in a research report on Thursday, March 6th. Finally, HC Wainwright reduced their price objective on shares of ALX Oncology from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.30.

ALX Oncology Stock Down 3.2%

NASDAQ ALXO opened at $0.46 on Wednesday. The business’s fifty day simple moving average is $0.54 and its 200-day simple moving average is $1.11. 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 $24.76 million, a PE ratio of -0.16 and a beta of 1.21. ALX Oncology has a 52 week low of $0.41 and a 52 week high of $15.21.

ALX Oncology (NASDAQ:ALXO) last issued its earnings results on Thursday, May 8th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.11). As a group, equities analysts anticipate that ALX Oncology will post -2.76 earnings per share for the current year.

Institutional Trading of ALX Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JSF Financial LLC purchased a new position in shares of ALX Oncology during the fourth quarter worth $29,000. Invesco Ltd. acquired a new position in ALX Oncology during the 1st quarter worth about $46,000. AQR Capital Management LLC lifted its stake in ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares in the last quarter. Sei Investments Co. purchased a new position in ALX Oncology during the 4th quarter valued at about $102,000. Finally, Nuveen LLC acquired a new position in ALX Oncology in the 1st quarter valued at about $103,000. Hedge funds and other 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.