ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Update

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 8,390,000 shares, an increase of 17.0% from the November 30th total of 7,170,000 shares. Approximately 24.4% of the company’s shares are sold short. Based on an average trading volume of 937,300 shares, the days-to-cover ratio is presently 9.0 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a report on Wednesday, December 18th. Finally, Jefferies Financial Group lowered shares of ALX Oncology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $2.00 in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.50.

Insider Transactions at ALX Oncology

In other ALX Oncology news, Director Rekha Hemrajani bought 30,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were acquired at an average price of $1.55 per share, with a total value of $46,500.00. Following the transaction, the director now owns 33,000 shares of the company’s stock, valued at approximately $51,150. This trade represents a 1,000.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in ALX Oncology by 31.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 104,966 shares of the company’s stock valued at $633,000 after purchasing an additional 25,199 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after buying an additional 5,200 shares in the last quarter. Privium Fund Management B.V. acquired a new stake in shares of ALX Oncology during the second quarter valued at about $2,271,000. Rhumbline Advisers increased its position in shares of ALX Oncology by 10.8% during the second quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock worth $333,000 after acquiring an additional 5,360 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ALX Oncology by 87.2% in the second quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock valued at $2,642,000 after purchasing an additional 204,100 shares during the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

ALX Oncology Stock Performance

Shares of ALX Oncology stock traded down $0.07 during trading hours on Friday, hitting $1.62. 470,455 shares of the company were exchanged, compared to its average volume of 830,145. The business has a 50-day moving average of $1.52 and a 200-day moving average of $3.04. The stock has a market capitalization of $85.44 million, a price-to-earnings ratio of -0.54 and a beta of 1.04. ALX Oncology has a 1 year low of $1.19 and a 1 year high of $17.83. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07.

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.