ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Up 7.5% in August

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 9,980,000 shares, an increase of 7.5% from the August 15th total of 9,280,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 7.8 days. Currently, 33.0% of the company’s stock are short sold.

ALX Oncology Stock Down 1.8 %

ALX Oncology stock opened at $2.14 on Thursday. ALX Oncology has a fifty-two week low of $1.88 and a fifty-two week high of $17.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.39 and a current ratio of 4.39. The company has a market capitalization of $111.49 million, a P/E ratio of -0.58 and a beta of 1.01. The stock has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $8.92.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.01. Equities research analysts expect that ALX Oncology will post -3.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. UBS Group decreased their price target on ALX Oncology from $25.00 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of ALX Oncology in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a report on Monday, August 12th. Lifesci Capital downgraded ALX Oncology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price target (down from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Insider Activity at ALX Oncology

In related news, insider Jaume Pons sold 20,000 shares of ALX Oncology stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $7.90, for a total value of $158,000.00. Following the completion of the transaction, the insider now directly owns 593,447 shares in the company, valued at $4,688,231.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 28,398 shares of company stock worth $200,043. Company insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co acquired a new position in ALX Oncology in the 1st quarter valued at about $27,000. EntryPoint Capital LLC acquired a new position in ALX Oncology in the 1st quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after acquiring an additional 5,200 shares during the period. China Universal Asset Management Co. Ltd. increased its position in ALX Oncology by 66.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,587 shares of the company’s stock valued at $107,000 after acquiring an additional 3,825 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in ALX Oncology in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

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.