ALX Oncology (NASDAQ:ALXO – Free Report) had its price objective cut by UBS Group from $4.00 to $2.20 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.
A number of other research firms also recently commented on ALXO. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Friday. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and reduced their price objective for the company from $12.00 to $2.00 in a research report on Thursday, December 19th. Finally, HC Wainwright dropped their target price on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $3.05.
View Our Latest Stock Analysis on ALXO
ALX Oncology Stock Performance
Insider Transactions at ALX Oncology
In related news, Director Rekha Hemrajani acquired 30,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of $1.55 per share, with a total value of $46,500.00. Following the transaction, the director now directly owns 33,000 shares in the company, valued at approximately $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 14,443 shares of company stock worth $23,309 in the last three months. 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 added to or reduced their stakes in ALXO. AQR Capital Management LLC boosted its position 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 purchasing an additional 6,080 shares during the period. SG Americas Securities LLC increased its stake in ALX Oncology by 33.6% in the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after buying an additional 6,888 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of ALX Oncology during the second quarter worth about $63,000. Wellington Management Group LLP boosted its stake in ALX Oncology by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock worth $305,000 after purchasing an additional 22,114 shares during the period. Finally, Algert Global LLC purchased a new position in shares of ALX Oncology in the second quarter worth $249,000. 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.
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