Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Increases By 17.0%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant growth in short interest during 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. Based on an average trading volume of 937,300 shares, the days-to-cover ratio is presently 9.0 days. Approximately 24.4% of the shares of the stock are sold short.

Insider Activity at ALX Oncology

In related news, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology stock in a transaction dated Monday, December 2nd. The shares were bought at an average cost of $1.55 per share, for a total transaction of $46,500.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 33.40% of the stock is currently owned by insiders.

Institutional Trading of ALX Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ALX Oncology by 394.8% during the second 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 during the period. Rhumbline Advisers grew its holdings in ALX Oncology by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock worth $333,000 after acquiring an additional 5,360 shares during the period. AQR Capital Management LLC raised its position in shares of ALX Oncology by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after acquiring an additional 6,080 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of ALX Oncology by 33.6% during 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 in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in ALX Oncology in the second quarter worth $63,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Trading Up 0.3 %

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

Analysts Set New Price Targets

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

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.