ALX Oncology (NASDAQ:ALXO) Rating Lowered to Hold at Lifesci Capital

ALX Oncology (NASDAQ:ALXO) was downgraded by equities research analysts at Lifesci Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

A number of other research firms also recently commented on ALXO. Stifel Nicolaus reduced their price objective on shares of ALX Oncology from $14.00 to $5.00 and set a “hold” rating on the stock in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of ALX Oncology in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.17.

ALX Oncology Stock Down 41.7 %

ALXO opened at $2.80 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.06. ALX Oncology has a 52-week low of $2.71 and a 52-week high of $17.83. The company has a 50 day moving average of $7.45 and a two-hundred day moving average of $11.92.

ALX Oncology (NASDAQ:ALXO) last announced its earnings results on Thursday, May 9th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.16. On average, sell-side analysts predict that ALX Oncology will post -2.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jaume Pons sold 20,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $15.92, for a total value of $318,400.00. Following the sale, the insider now owns 604,205 shares of the company’s stock, valued at approximately $9,618,943.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Peter S. Garcia acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $8.53 per share, with a total value of $102,360.00. Following the acquisition, the chief financial officer now directly owns 122,348 shares in the company, valued at $1,043,628.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $15.92, for a total transaction of $318,400.00. Following the transaction, the insider now directly owns 604,205 shares in the company, valued at approximately $9,618,943.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,469 shares of company stock valued at $873,346. Company insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co acquired a new position in ALX Oncology during the 1st quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in ALX Oncology during the 4th quarter valued at about $28,000. EntryPoint Capital LLC acquired a new position in ALX Oncology during the 1st quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ALX Oncology by 394.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after purchasing an additional 5,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of ALX Oncology by 445.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,762 shares of the company’s stock valued at $86,000 after purchasing an additional 4,706 shares in the last quarter. Institutional investors and hedge funds 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.