ALX Oncology (NASDAQ:ALXO) Sees Unusually-High Trading Volume


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ALX Oncology Holdings Inc. (NASDAQ:ALXO) shares saw strong trading volume on Thursday . 9,179 shares changed hands during mid-day trading, a decline of 96% from the previous session’s volume of 247,393 shares.The stock last traded at $69.18 and had previously closed at $74.61.

A number of research firms have issued reports on ALXO. Credit Suisse Group boosted their price objective on shares of ALX Oncology from $62.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. UBS Group began coverage on shares of ALX Oncology in a report on Tuesday. They issued a “buy” rating and a $96.00 price objective for the company. Piper Sandler upped their price target on shares of ALX Oncology from $78.00 to $97.00 and gave the stock an “overweight” rating in a report on Tuesday, December 15th. Cantor Fitzgerald upped their price objective on shares of ALX Oncology from $64.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 6th. Finally, HC Wainwright began coverage on shares of ALX Oncology in a research report on Wednesday, February 10th. They set a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. ALX Oncology presently has a consensus rating of “Buy” and a consensus target price of $90.67.

The stock’s 50-day moving average is $75.02 and its 200-day moving average is $67.87.

ALX Oncology (NASDAQ:ALXO) last released its quarterly earnings data on Thursday, March 18th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.13). Equities research analysts expect that ALX Oncology Holdings Inc. will post -2.29 EPS for the current year.

In other ALX Oncology news, CEO Jaume Pons sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, March 22nd. The shares were sold at an average price of $68.49, for a total value of $1,143,783.00. Following the completion of the transaction, the chief executive officer now directly owns 568,046 shares in the company, valued at approximately $38,905,470.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sophia Randolph sold 7,387 shares of the company’s stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $74.34, for a total transaction of $549,149.58. Following the completion of the transaction, the insider now owns 207,227 shares of the company’s stock, valued at $15,405,255.18. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of ALX Oncology during the fourth quarter worth $38,000. Lindbrook Capital LLC increased its position in shares of ALX Oncology by 366.7% during the fourth quarter. Lindbrook Capital LLC now owns 700 shares of the company’s stock worth $60,000 after buying an additional 550 shares during the period. Morgan Stanley acquired a new stake in shares of ALX Oncology during the third quarter worth $72,000. Penserra Capital Management LLC acquired a new stake in shares of ALX Oncology during the fourth quarter worth $73,000. Finally, Strs Ohio acquired a new stake in shares of ALX Oncology during the third quarter worth $90,000. Hedge funds and other institutional investors own 73.45% of the company’s stock.

About ALX Oncology (NASDAQ:ALXO)

ALX Oncology Holdings Inc, a clinical-stage immuno-oncology company, focuses on developing therapies for patients fighting cancer. Its lead product candidate is ALX148, a CD47 blocking therapeutic used for the treatment of myelodysplastic syndromes and acute myeloid leukemia, as well as a range of solid tumor indications, including head and neck squamous cell and human epidermal growth factor receptor 2 positive gastric/gastroesophageal junction carcinoma.

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