Bank of Nova Scotia Invests $176,000 in ALX Oncology Holdings Inc. (NASDAQ:ALXO)

Bank of Nova Scotia bought a new stake in shares of ALX Oncology Holdings Inc. (NASDAQ:ALXO) in the 4th quarter, HoldingsChannel reports. The firm bought 105,306 shares of the company’s stock, valued at approximately $176,000.

A number of other large investors have also recently added to or reduced their stakes in ALXO. Bank of Montreal Can bought a new position in shares of ALX Oncology in the fourth quarter valued at $1,380,000. Geode Capital Management LLC raised its position in shares of ALX Oncology by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 740,106 shares of the company’s stock worth $1,236,000 after purchasing an additional 39,259 shares during the period. Los Angeles Capital Management LLC raised its position in shares of ALX Oncology by 16.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 301,419 shares of the company’s stock worth $503,000 after purchasing an additional 43,640 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of ALX Oncology by 476.7% during the fourth quarter. JPMorgan Chase & Co. now owns 236,046 shares of the company’s stock valued at $394,000 after purchasing an additional 195,112 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of ALX Oncology by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock valued at $305,000 after purchasing an additional 22,114 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group raised shares of ALX Oncology from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.00 to $3.00 in a research note on Thursday, March 6th. UBS Group cut 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 note on Monday, January 27th. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of ALX Oncology in a report on Friday, March 7th. Piper Sandler upped their price target on ALX Oncology from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price objective on ALX Oncology from $3.00 to $1.50 and set a “hold” rating for the company in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.14.

ALX Oncology Stock Performance

Shares of NASDAQ ALXO opened at $0.55 on Wednesday. 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 Holdings Inc. has a one year low of $0.46 and a one year high of $17.83. The business’s 50-day moving average price is $0.84 and its two-hundred day moving average price is $1.31. The company has a market capitalization of $29.10 million, a P/E ratio of -0.18 and a beta of 1.20.

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.