ALX Oncology (NASDAQ:ALXO) Given New $9.00 Price Target at Piper Sandler

ALX Oncology (NASDAQ:ALXO) had its price objective raised by equities researchers at Piper Sandler from $8.00 to $9.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock.

Several other brokerages have also recently commented on ALXO. UBS Group dropped their price target on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research report on Monday, January 27th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Jefferies Financial Group upgraded ALX Oncology from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.00 to $3.00 in a report on Thursday. Finally, HC Wainwright cut their price objective on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.44.

ALX Oncology Stock Performance

ALXO stock opened at $1.23 on Thursday. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $1.41 and a 200 day simple moving average of $1.63. ALX Oncology has a fifty-two week low of $0.95 and a fifty-two week high of $17.83. The company has a market capitalization of $65.08 million, a P/E ratio of -0.41 and a beta of 1.01.

Hedge Funds Weigh In On ALX Oncology

A number of large investors have recently made changes to their positions in ALXO. JSF Financial LLC acquired a new position in shares of ALX Oncology in the 4th quarter valued at about $29,000. GSA Capital Partners LLP acquired a new position in shares of ALX Oncology in the 3rd quarter valued at about $88,000. Sei Investments Co. acquired a new position in shares of ALX Oncology in the 4th quarter valued at about $102,000. Barclays PLC increased its holdings in shares of ALX Oncology by 243.6% in the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock valued at $107,000 after purchasing an additional 42,185 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology in the 4th quarter valued at about $125,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.