Bank of Nova Scotia Acquires New Position in ALX Oncology Holdings Inc. (NASDAQ:ALXO)

Bank of Nova Scotia bought a new position in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 105,306 shares of the company’s stock, valued at approximately $176,000. Bank of Nova Scotia owned about 0.20% of ALX Oncology as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in ALX Oncology in the fourth quarter valued at approximately $1,380,000. JPMorgan Chase & Co. lifted its holdings in shares of ALX Oncology by 476.7% in the 4th quarter. JPMorgan Chase & Co. now owns 236,046 shares of the company’s stock worth $394,000 after purchasing an additional 195,112 shares during the last quarter. Sei Investments Co. acquired a new position in ALX Oncology during the 4th quarter valued at approximately $102,000. Los Angeles Capital Management LLC grew its stake in ALX Oncology by 16.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 301,419 shares of the company’s stock worth $503,000 after buying an additional 43,640 shares during the last quarter. Finally, Barclays PLC increased its position in ALX Oncology by 243.6% in the third quarter. Barclays PLC now owns 59,502 shares of the company’s stock worth $107,000 after buying an additional 42,185 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Price Performance

Shares of NASDAQ:ALXO opened at $0.55 on Wednesday. The stock’s 50 day moving average price is $0.84 and its 200 day moving average price is $1.31. 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 $29.10 million, a price-to-earnings ratio of -0.18 and a beta of 1.20. ALX Oncology Holdings Inc. has a 12 month low of $0.46 and a 12 month high of $17.83.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALXO. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of ALX Oncology from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.00 to $3.00 in a research report on Thursday, March 6th. UBS Group dropped their price target on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research note on Monday, January 27th. Stifel Nicolaus decreased their price objective on ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a report on Friday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of ALX Oncology in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.14.

ALX Oncology 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.