HC Wainwright Reiterates “Buy” Rating for ALX Oncology (NASDAQ:ALXO)

ALX Oncology (NASDAQ:ALXO)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other research analysts have also issued reports on ALXO. Stifel Nicolaus reiterated a “hold” rating and issued a $3.00 target price (down from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. Lifesci Capital cut ALX Oncology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

ALX Oncology Stock Down 2.3 %

Shares of ALXO opened at $2.58 on Tuesday. The company’s 50-day simple moving average is $5.98 and its 200-day simple moving average is $11.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.21 and a current ratio of 5.21. ALX Oncology has a 1 year low of $2.42 and a 1 year high of $17.83. The stock has a market capitalization of $134.42 million, a PE ratio of -0.69 and a beta of 1.06.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Thursday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.01. Analysts forecast that ALX Oncology will post -2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $8.43, for a total transaction of $168,600.00. Following the sale, the insider now owns 604,205 shares of the company’s stock, valued at approximately $5,093,448.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jaume Pons sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $8.43, for a total value of $168,600.00. Following the completion of the transaction, the insider now owns 604,205 shares in the company, valued at approximately $5,093,448.15. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter S. Garcia purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the completion of the purchase, the chief financial officer now directly owns 122,348 shares in the company, valued at $1,043,628.44. The disclosure for this purchase can be found here. Insiders sold 46,469 shares of company stock valued at $363,666 in the last ninety days. Insiders own 33.40% of the company’s stock.

Institutional Trading of ALX Oncology

A number of large investors have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in ALX Oncology in the first quarter valued at approximately $32,000. abrdn plc acquired a new stake in ALX Oncology during the 4th quarter worth $986,000. Swiss National Bank purchased a new position in ALX Oncology during the 1st quarter worth $493,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in ALX Oncology in the fourth quarter valued at $28,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of ALX Oncology in the fourth quarter valued at about $215,000. 97.97% of the stock is 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.