ALX Oncology Holdings Inc. (NASDAQ:ALXO) Sees Significant Decrease in Short Interest

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

Insider Transactions at ALX Oncology

In other news, Director Rekha Hemrajani bought 30,000 shares of the 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 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 14,443 shares of company stock worth $23,309 over the last ninety days. 33.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of ALX Oncology by 10.8% during the second quarter. Rhumbline Advisers now owns 55,220 shares of the company’s stock valued at $333,000 after purchasing an additional 5,360 shares in the last quarter. AQR Capital Management LLC increased its stake in ALX Oncology by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after buying an additional 6,080 shares during the last quarter. SG Americas Securities LLC lifted its position 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. Hsbc Holdings PLC purchased a new position in shares of ALX Oncology in the 2nd quarter worth about $63,000. Finally, Wellington Management Group LLP increased its holdings in ALX Oncology by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock worth $305,000 after acquiring an additional 22,114 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Stock Up 6.7 %

ALXO stock traded up $0.11 during mid-day trading on Friday, reaching $1.74. 578,695 shares of the company traded hands, compared to its average volume of 1,044,459. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average price is $1.59 and its 200 day moving average price is $2.51. The stock has a market cap of $91.77 million, a price-to-earnings ratio of -0.58 and a beta of 0.98. ALX Oncology has a fifty-two week low of $1.19 and a fifty-two week high of $17.83.

Wall Street Analysts Forecast Growth

ALXO has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a research report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating 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 dropped their price target for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock 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.