ALX Oncology (NASDAQ:ALXO) Upgraded to “Buy” at Jefferies Financial Group

ALX Oncology (NASDAQ:ALXO) was upgraded by investment analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $3.00 price target on the stock, up from their prior price target of $2.00. Jefferies Financial Group’s price objective indicates a potential upside of 188.46% from the stock’s current price.

ALXO has been the subject of several other research reports. HC Wainwright decreased their price objective on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Finally, UBS Group cut their price target on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3.30.

ALX Oncology Trading Up 4.0 %

ALXO opened at $1.04 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ALX Oncology has a fifty-two week low of $0.95 and a fifty-two week high of $17.83. The firm has a market capitalization of $54.85 million, a PE ratio of -0.35 and a beta of 1.01. The company’s 50-day moving average is $1.41 and its 200 day moving average is $1.63.

Institutional Trading of ALX Oncology

Several institutional investors and hedge funds have recently made changes to their positions in ALXO. Privium Fund Management B.V. raised its position in shares of ALX Oncology by 28.2% during the 3rd quarter. Privium Fund Management B.V. now owns 509,059 shares of the company’s stock valued at $926,000 after buying an additional 112,093 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of ALX Oncology during the 3rd quarter valued at $469,000. GSA Capital Partners LLP purchased a new stake in shares of ALX Oncology during the 3rd quarter valued at $88,000. Connor Clark & Lunn Investment Management Ltd. raised its position in ALX Oncology by 207.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,042 shares of the company’s stock worth $151,000 after purchasing an additional 56,028 shares during the period. Finally, Walleye Capital LLC raised its position in ALX Oncology by 110.3% in the 3rd quarter. Walleye Capital LLC now owns 230,875 shares of the company’s stock worth $420,000 after purchasing an additional 121,113 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.