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

Jefferies Financial Group upgraded shares of ALX Oncology (NASDAQ:ALXO) from a hold rating to a buy rating in a report issued on Thursday morning, Marketbeat Ratings reports. They currently have $3.00 price objective on the stock, up from their previous price objective of $2.00.

A number of other research firms also recently issued reports on ALXO. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research note on Friday, January 24th. UBS Group dropped their target price 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. Finally, HC Wainwright dropped their target price on shares of ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.44.

ALX Oncology Price Performance

ALXO stock opened at $1.31 on Thursday. The company has a market capitalization of $69.09 million, a P/E ratio of -0.44 and a beta of 1.01. 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 has a 52-week low of $0.95 and a 52-week high of $17.83. The business has a 50-day simple moving average of $1.40 and a two-hundred day simple moving average of $1.63.

Hedge Funds Weigh In On ALX Oncology

Hedge funds have recently modified their holdings of the company. Two Sigma Investments LP lifted its stake in ALX Oncology by 6.7% in the fourth quarter. Two Sigma Investments LP now owns 704,131 shares of the company’s stock valued at $1,176,000 after purchasing an additional 44,072 shares during the last quarter. Two Sigma Advisers LP lifted its stake in ALX Oncology by 64.6% in the fourth quarter. Two Sigma Advisers LP now owns 823,900 shares of the company’s stock valued at $1,376,000 after purchasing an additional 323,400 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in ALX Oncology by 55.6% in the fourth quarter. Nuveen Asset Management LLC now owns 164,790 shares of the company’s stock valued at $275,000 after purchasing an additional 58,896 shares during the last quarter. Deutsche Bank AG lifted its stake in ALX Oncology by 521.0% in the fourth quarter. Deutsche Bank AG now owns 101,113 shares of the company’s stock valued at $169,000 after purchasing an additional 84,830 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in ALX Oncology in the fourth quarter valued at approximately $125,000. Institutional investors 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.