ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Up 17.0% in December

ALX Oncology Holdings Inc. (NASDAQ:ALXO) saw a large growth in short interest in 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. Approximately 24.4% of the company’s shares are sold short. Based on an average daily volume of 937,300 shares, the days-to-cover ratio is currently 9.0 days.

Insider Buying and Selling

In related news, Director Rekha Hemrajani purchased 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was purchased 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 owns 33,000 shares of the company’s stock, valued at approximately $51,150. The trade was a 1,000.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 33.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ALX Oncology

Several large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in ALX Oncology in the 2nd quarter worth about $1,834,000. GSA Capital Partners LLP acquired a new position in ALX Oncology during the third quarter worth $88,000. Marshall Wace LLP lifted its holdings in ALX Oncology by 423.0% during the second quarter. Marshall Wace LLP now owns 635,679 shares of the company’s stock valued at $3,833,000 after purchasing an additional 514,133 shares in the last quarter. SG Americas Securities LLC grew its position in shares of ALX Oncology by 33.6% in the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock valued at $50,000 after purchasing an additional 6,888 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 purchasing an additional 5,200 shares in the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALXO has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a research report on Wednesday, December 18th. Jefferies Financial Group downgraded shares of ALX Oncology from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.00 to $2.00 in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.50.

ALX Oncology Stock Up 2.5 %

ALX Oncology stock opened at $1.66 on Tuesday. ALX Oncology has a 52 week low of $1.19 and a 52 week high of $17.83. The firm has a market cap of $87.55 million, a price-to-earnings ratio of -0.56 and a beta of 1.04. The business’s 50-day moving average price is $1.52 and its 200 day moving average price is $3.00. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07.

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.