ALX Oncology (NASDAQ:ALXO) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of ALX Oncology (NASDAQ:ALXO) in a report released on Thursday. The firm set a “buy” rating and a $4.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 227.87% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.50.

ALX Oncology Stock Performance

Shares of ALXO traded down $0.06 during trading hours on Thursday, reaching $1.22. 205,384 shares of the company traded hands, compared to its average volume of 788,856. The company has a quick ratio of 4.52, a current ratio of 2.40 and a debt-to-equity ratio of 0.13. ALX Oncology has a 12-month low of $0.40 and a 12-month high of $2.27. The business has a fifty day moving average price of $1.51 and a 200-day moving average price of $0.91. The stock has a market capitalization of $66.15 million, a P/E ratio of -0.60 and a beta of 1.23.

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

Insider Activity

In other news, CEO Jason Lettmann acquired 71,163 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was purchased at an average cost of $1.08 per share, with a total value of $76,856.04. Following the acquisition, the chief executive officer owned 305,121 shares of the company’s stock, valued at $329,530.68. This trade represents a 30.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Almitas Capital LLC raised its position in shares of ALX Oncology by 10.6% in the 1st quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock valued at $843,000 after buying an additional 130,196 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in ALX Oncology by 16.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after buying an additional 186,883 shares during the period. Jane Street Group LLC bought a new stake in ALX Oncology during the second quarter valued at $84,000. Nuveen LLC bought a new position in ALX Oncology during the first quarter valued at approximately $103,000. Finally, AQR Capital Management LLC raised its stake in shares of ALX Oncology by 183.6% during the first 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 during the last quarter. 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.