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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 7,600,000 shares, a decrease of 9.4% from the December 31st total of 8,390,000 shares. Based on an average daily volume of 984,300 shares, the short-interest ratio is presently 7.7 days. Currently, 24.6% of the company’s stock are sold short.

Insider Activity at ALX Oncology

In other ALX Oncology news, Director Rekha Hemrajani acquired 30,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the director now directly owns 33,000 shares of the company’s stock, valued at approximately $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 14,443 shares of company stock valued at $23,309. Insiders own 33.40% of the company’s stock.

Institutional Investors Weigh In On ALX Oncology

A number of large investors have recently added to or reduced their stakes in the stock. JSF Financial LLC acquired a new stake in ALX Oncology during the fourth quarter worth approximately $29,000. Barclays PLC grew its position in ALX Oncology by 243.6% during the third quarter. Barclays PLC now owns 59,502 shares of the company’s stock worth $107,000 after buying an additional 42,185 shares in the last quarter. XTX Topco Ltd acquired a new stake in ALX Oncology during the third quarter worth approximately $578,000. Wellington Management Group LLP grew its position in ALX Oncology by 15.2% during the third quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock worth $305,000 after buying an additional 22,114 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in ALX Oncology by 308.4% during the third quarter. Verition Fund Management LLC now owns 133,025 shares of the company’s stock worth $242,000 after buying an additional 100,454 shares in the last quarter. Institutional investors and hedge funds own 97.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group lowered ALX Oncology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. HC Wainwright dropped their price objective on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. UBS Group dropped their price objective on ALX Oncology from $4.00 to $2.20 and set a “buy” rating on the stock in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.05.

ALX Oncology Price Performance

Shares of NASDAQ ALXO opened at $1.31 on Friday. The firm has a market cap of $68.83 million, a P/E ratio of -0.44 and a beta of 0.98. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a 1-year low of $1.19 and a 1-year high of $17.83. The business’s 50 day moving average is $1.64 and its 200-day moving average is $2.24.

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.