Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Drops By 18.2%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 7,840,000 shares, a drop of 18.2% from the October 15th total of 9,590,000 shares. Currently, 25.9% of the shares of the company are sold short. Based on an average daily volume of 701,400 shares, the days-to-cover ratio is presently 11.2 days.

ALX Oncology Stock Down 3.0 %

Shares of NASDAQ:ALXO opened at $1.29 on Friday. The company’s fifty day moving average is $1.69 and its 200-day moving average is $5.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ALX Oncology has a 52 week low of $1.25 and a 52 week high of $17.83. The company has a market capitalization of $68.04 million, a PE ratio of -0.43 and a beta of 1.03.

Hedge Funds Weigh In On ALX Oncology

Several institutional investors have recently added to or reduced their stakes in ALXO. Redmile Group LLC increased its holdings in shares of ALX Oncology by 18.2% during the first quarter. Redmile Group LLC now owns 4,326,509 shares of the company’s stock worth $48,241,000 after buying an additional 667,245 shares in the last quarter. Marshall Wace LLP grew its position in ALX Oncology by 423.0% during the 2nd quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock worth $3,833,000 after acquiring an additional 514,133 shares during the last quarter. Privium Fund Management B.V. acquired a new stake in ALX Oncology during the 2nd quarter valued at $2,271,000. XTX Topco Ltd bought a new position in ALX Oncology in the 3rd quarter valued at $578,000. Finally, Point72 Asset Management L.P. acquired a new position in ALX Oncology in the second quarter worth $1,834,000. 97.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALXO shares. UBS Group cut their target price on ALX Oncology from $25.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Lifesci Capital cut shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research report on Tuesday, November 12th. Stifel Nicolaus reissued a “hold” rating and issued a $3.00 target price (down previously from $5.00) on shares of ALX Oncology in a research note on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of ALX Oncology in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.