Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Decreases By 9.4%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 7,600,000 shares, a decrease of 9.4% from the December 15th total of 8,390,000 shares. Currently, 24.6% of the company’s shares are sold short. Based on an average daily trading volume, of 984,300 shares, the short-interest ratio is presently 7.7 days.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group lowered ALX Oncology from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $2.00 in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a report on Wednesday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a research report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Insiders Place Their Bets

In related news, Director Rekha Hemrajani bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the transaction, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $51,150. The trade was a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 14,443 shares of company stock worth $23,309. Corporate insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in ALX Oncology by 33.6% in the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock valued at $50,000 after buying an additional 6,888 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of ALX Oncology in the 2nd quarter worth $63,000. GSA Capital Partners LLP bought a new stake in shares of ALX Oncology in the 3rd quarter worth $88,000. Barclays PLC raised its holdings in shares of ALX Oncology by 243.6% in the third quarter. Barclays PLC now owns 59,502 shares of the company’s stock valued at $107,000 after purchasing an additional 42,185 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of ALX Oncology by 50.7% during the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after purchasing an additional 6,080 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Price Performance

ALXO stock opened at $1.63 on Friday. 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 business has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $2.56. The company has a market capitalization of $85.97 million, a P/E ratio of -0.55 and a beta of 0.98. ALX Oncology has a 52-week low of $1.19 and a 52-week high of $17.83.

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.