ALX Oncology Holdings Inc. (NASDAQ:ALXO) Sees Large Increase in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,980,000 shares, a growth of 7.5% from the August 15th total of 9,280,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is presently 7.8 days. Currently, 33.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALXO. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Monday, August 12th. 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 note on Friday, August 16th. Lifesci Capital downgraded shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price objective (down previously from $5.00) on shares of ALX Oncology in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, ALX Oncology has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Buying and Selling at ALX Oncology

In related news, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $7.90, for a total value of $158,000.00. Following the completion of the sale, the insider now owns 593,447 shares of the company’s stock, valued at approximately $4,688,231.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 28,398 shares of company stock worth $200,043 over the last ninety days. 33.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jump Financial LLC bought a new stake in ALX Oncology during the 4th quarter worth about $371,000. Dynamic Technology Lab Private Ltd acquired a new position in ALX Oncology during the fourth quarter valued at approximately $215,000. TD Asset Management Inc bought a new position in shares of ALX Oncology in the 4th quarter valued at about $1,048,000. Vestal Point Capital LP acquired a new position in ALX Oncology during the fourth quarter worth approximately $24,643,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in ALX Oncology by 66.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,587 shares of the company’s stock valued at $107,000 after acquiring an additional 3,825 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Stock Down 1.8 %

Shares of NASDAQ ALXO opened at $2.18 on Tuesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.06. The company has a market cap of $113.58 million, a price-to-earnings ratio of -0.59 and a beta of 1.01. ALX Oncology has a 12-month low of $1.88 and a 12-month high of $17.83. The firm’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $9.06.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.01. On average, research analysts expect that ALX Oncology will post -3.04 earnings per share for the current fiscal year.

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.