ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 18.2% in October

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large drop in short interest during the month of 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 stock are sold short. Based on an average trading volume of 701,400 shares, the days-to-cover ratio is currently 11.2 days.

ALX Oncology Trading Down 3.0 %

NASDAQ:ALXO opened at $1.29 on Friday. The firm has a market capitalization of $68.04 million, a P/E ratio of -0.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.82 and a quick ratio of 4.82. ALX Oncology has a one year low of $1.25 and a one year high of $17.83. The company’s 50-day simple moving average is $1.69 and its 200 day simple moving average is $5.57.

Institutional Trading of ALX Oncology

A number of hedge funds have recently made changes to their positions in ALXO. CANADA LIFE ASSURANCE Co purchased a new stake in shares of ALX Oncology during the first quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of ALX Oncology during the first quarter valued at $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after buying an additional 5,200 shares in the last quarter. 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 worth $50,000 after buying an additional 6,888 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in ALX Oncology during the 2nd quarter valued at about $63,000. 97.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALXO has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Tuesday. Lifesci Capital lowered shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $3.00 price objective (down previously from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a report on Tuesday, August 13th. Finally, UBS Group decreased their price target on ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.50.

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.