ALX Oncology (NASDAQ:ALXO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of ALX Oncology (NASDAQ:ALXO) from a hold rating to a sell rating in a report published on Friday.

A number of other research analysts have also commented on the company. Jefferies Financial Group raised ALX Oncology from a “hold” rating to a “buy” rating and upped their price target for the company from $2.00 to $3.00 in a research report on Thursday, March 6th. UBS Group lowered their price target on ALX Oncology from $1.20 to $1.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. HC Wainwright lowered their price target on ALX Oncology from $5.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Piper Sandler upped their price target on ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their target price on ALX Oncology from $3.00 to $1.50 and set a “hold” rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.30.

ALX Oncology Trading Up 10.3%

ALXO opened at $0.58 on Friday. The business has a 50 day simple moving average of $0.51 and a two-hundred day simple moving average of $1.05. The firm has a market capitalization of $30.92 million, a price-to-earnings ratio of -0.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ALX Oncology has a one year low of $0.41 and a one year high of $9.04.

ALX Oncology (NASDAQ:ALXO) last released its quarterly 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). Analysts predict that ALX Oncology will post -2.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALXO. JSF Financial LLC purchased a new position in shares of ALX Oncology during the 4th quarter worth approximately $29,000. Bank of New York Mellon Corp grew its holdings in shares of ALX Oncology by 12.0% during the 4th quarter. Bank of New York Mellon Corp now owns 90,003 shares of the company’s stock worth $150,000 after acquiring an additional 9,623 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of ALX Oncology by 16.9% in 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. Sei Investments Co. purchased a new stake in shares of ALX Oncology in the 4th quarter worth approximately $102,000. Finally, JPMorgan Chase & Co. grew its stake 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 buying an additional 195,112 shares during the last quarter. 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.