UBS Group Issues Pessimistic Forecast for ALX Oncology (NASDAQ:ALXO) Stock Price

ALX Oncology (NASDAQ:ALXO) had its price target reduced by equities researchers at UBS Group from $1.20 to $1.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 108.81% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of ALX Oncology from a “hold” rating to a “buy” rating and lifted their price objective for the company from $2.00 to $3.00 in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price target on ALX Oncology from $3.00 to $1.50 and set a “hold” rating on the stock in a research report on Friday, March 7th. Piper Sandler boosted their price target on ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, HC Wainwright dropped their target price on ALX Oncology from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.30.

ALX Oncology Stock Up 17.1%

ALXO opened at $0.48 on Wednesday. The stock has a market capitalization of $25.57 million, a P/E ratio of -0.16 and a beta of 1.21. ALX Oncology has a one year low of $0.41 and a one year high of $15.35. The business’s 50-day simple moving average is $0.55 and its 200-day simple moving average is $1.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.11). Analysts anticipate that ALX Oncology will post -2.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Almitas Capital LLC increased its position in 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 purchasing an additional 130,196 shares during the period. Acadian Asset Management LLC grew its holdings in ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares during the period. Bank of America Corp DE grew its holdings in ALX Oncology by 492.9% during the fourth quarter. Bank of America Corp DE now owns 1,035,326 shares of the company’s stock worth $1,729,000 after acquiring an additional 860,703 shares during the period. Bank of Montreal Can acquired a new position in ALX Oncology during the fourth quarter worth $1,380,000. Finally, Two Sigma Advisers LP grew its holdings in ALX Oncology by 64.6% during the fourth quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock worth $1,376,000 after acquiring an additional 323,400 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.