ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 9.4% in January

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a large decrease in short interest in 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. Approximately 24.6% of the shares of the stock are short sold. Based on an average trading volume of 984,300 shares, the days-to-cover ratio is currently 7.7 days.

Insider Transactions at ALX Oncology

In related news, Director Rekha Hemrajani purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average price of $1.55 per share, with a total value of $46,500.00. Following the purchase, the director now owns 33,000 shares of the company’s stock, valued at $51,150. The trade was a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 14,443 shares of company stock valued at $23,309 in the last ninety days. 33.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ALX Oncology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its holdings in shares of ALX Oncology by 423.0% during the 2nd 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. XTX Topco Ltd purchased a new position in ALX Oncology during the third quarter worth about $578,000. Point72 Asset Management L.P. acquired a new position in ALX Oncology in the 2nd quarter valued at about $1,834,000. Los Angeles Capital Management LLC purchased a new stake in shares of ALX Oncology in the 3rd quarter valued at approximately $469,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ALX Oncology during the 2nd quarter worth approximately $1,203,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

ALX Oncology Price Performance

Shares of ALX Oncology stock traded up $0.16 on Friday, hitting $1.46. 1,033,686 shares of the company were exchanged, compared to its average volume of 1,080,295. 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 company has a 50-day moving average price of $1.64 and a 200 day moving average price of $2.19. The stock has a market capitalization of $77.00 million, a price-to-earnings ratio of -0.49 and a beta of 0.98. ALX Oncology has a 1-year low of $1.19 and a 1-year high of $17.83.

Analyst Ratings Changes

ALXO has been the subject of a number of research reports. Jefferies Financial Group cut shares of ALX Oncology from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research note on Friday, January 24th. HC Wainwright decreased their target price on ALX Oncology from $25.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Finally, UBS Group dropped their price target on ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3.05.

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.