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

Wall Street Zen lowered shares of ALX Oncology (NASDAQ:ALXO) from a hold rating to a sell rating in a research note released on Saturday.

Several other equities analysts have also commented on ALXO. Piper Sandler increased their price objective on shares of ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of ALX Oncology in a report on Tuesday, March 10th. UBS Group initiated coverage on ALX Oncology in a research report on Friday, March 6th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on ALX Oncology in a research note on Thursday, March 19th. They set an “overweight” rating and a $5.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.60.

ALX Oncology Stock Up 4.8%

Shares of ALXO opened at $1.75 on Friday. The stock has a market capitalization of $230.32 million, a price-to-earnings ratio of -0.92 and a beta of 0.49. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.66. The business’s 50 day simple moving average is $2.09 and its 200-day simple moving average is $1.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.07 and a quick ratio of 2.07.

ALX Oncology (NASDAQ:ALXO) last posted its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter. As a group, equities analysts expect that ALX Oncology will post -0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total value of $26,714.87. Following the sale, the chief executive officer owned 293,609 shares of the company’s stock, valued at approximately $637,131.53. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Corey S. Goodman bought 3,184,713 shares of the stock in a transaction dated Monday, February 2nd. The stock was purchased at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the acquisition, the director directly owned 8,453,038 shares in the company, valued at approximately $13,271,269.66. The trade was a 60.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 21.00% of the company’s stock.

Institutional Trading of ALX Oncology

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new position in shares of ALX Oncology during the first quarter valued at approximately $46,000. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology during the third quarter valued at approximately $66,000. AQR Capital Management LLC raised its holdings in shares of ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after buying an additional 77,065 shares during the period. Jane Street Group LLC purchased a new stake in shares of ALX Oncology in the second quarter worth approximately $84,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of ALX Oncology during the 4th quarter worth approximately $133,000. Institutional investors own 97.97% of the company’s stock.

About ALX Oncology

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company’s mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology’s pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.