Cantor Fitzgerald Reaffirms Overweight Rating for ALX Oncology (NASDAQ:ALXO)

Cantor Fitzgerald restated their overweight rating on shares of ALX Oncology (NASDAQ:ALXO) in a report issued on Tuesday,Benzinga reports. Cantor Fitzgerald also issued estimates for ALX Oncology’s FY2024 earnings at ($2.69) EPS.

Several other research firms have also issued reports on ALXO. Lifesci Capital lowered shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of ALX Oncology in a research report on Tuesday, August 13th. UBS Group lowered their price objective on shares of ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $3.00 price objective (down from $5.00) on shares of ALX Oncology in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

ALX Oncology Trading Down 3.0 %

ALX Oncology stock opened at $1.29 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The firm has a market cap of $68.04 million, a price-to-earnings ratio of -0.43 and a beta of 1.03. ALX Oncology has a 1 year low of $1.25 and a 1 year high of $17.83. The firm’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $5.57.

Institutional Investors Weigh In On ALX Oncology

A number of institutional investors have recently modified their holdings of ALXO. Redmile Group LLC boosted its stake in shares of ALX Oncology by 18.2% during the 1st quarter. Redmile Group LLC now owns 4,326,509 shares of the company’s stock valued at $48,241,000 after buying an additional 667,245 shares during the period. Marshall Wace LLP boosted its stake in shares of ALX Oncology by 423.0% during the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after buying an additional 514,133 shares during the period. Privium Fund Management B.V. acquired a new stake in shares of ALX Oncology during the 2nd quarter valued at $2,271,000. XTX Topco Ltd acquired a new stake in shares of ALX Oncology during the 3rd quarter valued at $578,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of ALX Oncology during the 2nd quarter valued at $1,834,000. 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.