ALX Oncology (NASDAQ:ALXO) Price Target Cut to $5.00

ALX Oncology (NASDAQ:ALXO) had its price objective trimmed by Stifel Nicolaus from $14.00 to $5.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other equities research analysts have also commented on the stock. HC Wainwright reiterated a buy rating and issued a $25.00 price objective on shares of ALX Oncology in a research report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating on shares of ALX Oncology in a report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $18.17.

ALX Oncology Price Performance

ALXO traded down $0.19 on Thursday, hitting $2.67. 212,773 shares of the company were exchanged, compared to its average volume of 774,007. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.21 and a current ratio of 5.21. The business’s fifty day moving average is $7.25 and its 200 day moving average is $11.81. ALX Oncology has a fifty-two week low of $2.50 and a fifty-two week high of $17.83. The firm has a market capitalization of $139.11 million, a P/E ratio of -0.77 and a beta of 1.06.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings data 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. As a group, sell-side analysts anticipate that ALX Oncology will post -2.89 EPS for the current year.

Insider Activity at ALX Oncology

In other ALX Oncology news, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $7.90, for a total value of $158,000.00. Following the transaction, the insider now owns 593,447 shares in the company, valued at approximately $4,688,231.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $7.90, for a total value of $158,000.00. Following the transaction, the insider now directly owns 593,447 shares of the company’s stock, valued at approximately $4,688,231.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter S. Garcia bought 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $8.53 per share, with a total value of $102,360.00. Following the transaction, the chief financial officer now owns 122,348 shares in the company, valued at approximately $1,043,628.44. The disclosure for this purchase can be found here. Over the last three months, insiders sold 58,469 shares of company stock worth $554,946. 33.40% of the stock is owned by company insiders.

Institutional Trading of ALX Oncology

Several large investors have recently added to or reduced their stakes in ALXO. CANADA LIFE ASSURANCE Co acquired a new stake in shares of ALX Oncology in the first quarter valued at about $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in ALX Oncology during the 4th quarter worth approximately $28,000. EntryPoint Capital LLC purchased a new position in ALX Oncology in the 1st quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ALX Oncology by 394.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after acquiring an additional 5,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of ALX Oncology by 445.6% during the fourth 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 during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.