ALX Oncology (NASDAQ:ALXO) Lowered to Sell Rating by Wall Street Zen

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

ALXO has been the subject of several other reports. Jefferies Financial Group assumed coverage on shares of ALX Oncology in a report on Thursday, November 13th. They issued a “buy” rating and a $4.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.50.

ALX Oncology Stock Down 3.3%

ALXO stock opened at $1.47 on Friday. ALX Oncology has a 52 week low of $0.40 and a 52 week high of $2.27. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $79.70 million, a price-to-earnings ratio of -0.72 and a beta of 0.53. The firm’s 50-day moving average is $1.52 and its two-hundred day moving average is $1.06.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). On average, analysts forecast that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Insider Activity at ALX Oncology

In other news, CEO Jason Lettmann acquired 71,163 shares of ALX Oncology stock in a transaction on Wednesday, September 17th. The stock was bought at an average price of $1.08 per share, for a total transaction of $76,856.04. Following the transaction, the chief executive officer owned 305,121 shares of the company’s stock, valued at $329,530.68. The trade was a 30.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology during the third quarter valued at $66,000. Invesco Ltd. bought a new stake in ALX Oncology during the 1st quarter worth approximately $46,000. AQR Capital Management LLC lifted its position in ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after acquiring an additional 77,065 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock worth $1,110,000 after buying an additional 128,737 shares during the period. Finally, Almitas Capital LLC grew its stake in shares of ALX Oncology by 10.6% during the 1st quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock worth $843,000 after acquiring an additional 130,196 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

ALX Oncology Company 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.