Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Decreases By 6.7%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 9,320,000 shares, a decline of 6.7% from the September 15th total of 9,990,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is presently 8.1 days. Approximately 30.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

ALX Oncology Price Performance

Shares of NASDAQ:ALXO opened at $1.51 on Friday. The company has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $7.37. ALX Oncology has a one year low of $1.42 and a one year high of $17.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market capitalization of $78.67 million, a price-to-earnings ratio of -0.41 and a beta of 1.00.

ALX Oncology (NASDAQ:ALXO) last announced its earnings results on Thursday, August 8th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.01. On average, analysts predict that ALX Oncology will post -3.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Redmile Group LLC increased its stake 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 acquiring an additional 667,245 shares during the period. Vanguard Group Inc. increased its stake in shares of ALX Oncology by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,566,464 shares of the company’s stock worth $17,466,000 after acquiring an additional 64,055 shares during the period. Marshall Wace LLP increased its stake in shares of ALX Oncology by 423.0% during the second 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 period. Renaissance Technologies LLC increased its stake in shares of ALX Oncology by 87.2% during the second quarter. Renaissance Technologies LLC now owns 438,200 shares of the company’s stock worth $2,642,000 after acquiring an additional 204,100 shares during the period. Finally, Privium Fund Management B.V. acquired a new position in shares of ALX Oncology during the second quarter worth about $2,271,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.