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

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

Insider Activity

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

Institutional Trading of ALX Oncology

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of ALX Oncology by 31.6% in the second quarter. Bank of New York Mellon Corp now owns 104,966 shares of the company’s stock valued at $633,000 after acquiring an additional 25,199 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ALX Oncology by 394.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after buying an additional 5,200 shares in the last quarter. Privium Fund Management B.V. bought a new stake in shares of ALX Oncology in the second quarter valued at approximately $2,271,000. Rhumbline Advisers grew its position in 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 buying an additional 5,360 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of ALX Oncology by 87.2% during the 2nd quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock valued at $2,642,000 after acquiring an additional 204,100 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ALX Oncology Stock Performance

ALXO stock traded up $0.01 during mid-day trading on Monday, hitting $1.63. 311,579 shares of the company were exchanged, compared to its average volume of 828,008. ALX Oncology has a 1-year low of $1.19 and a 1-year high of $17.83. The business has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $3.00. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $85.71 million, a PE ratio of -0.55 and a beta of 1.04.

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.