Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Expands By 32.0%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 1,047,613 shares, an increase of 32.0% from the November 30th total of 793,867 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 212,826 shares, the days-to-cover ratio is presently 4.9 days. Based on an average daily volume of 212,826 shares, the days-to-cover ratio is presently 4.9 days. Approximately 2.4% of the company’s stock are sold short.

Institutional Investors Weigh In On ALX Oncology

A number of institutional investors have recently made changes to their positions in ALXO. Ameriprise Financial Inc. bought a new position in shares of ALX Oncology during the third quarter worth approximately $1,195,000. Two Sigma Investments LP grew its holdings in ALX Oncology by 26.9% in the 3rd quarter. Two Sigma Investments LP now owns 606,671 shares of the company’s stock valued at $1,110,000 after buying an additional 128,737 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in ALX Oncology during the 3rd quarter worth $66,000. Jane Street Group LLC bought a new position in ALX Oncology during the 2nd quarter worth $84,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of ALX Oncology by 16.8% during the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after buying an additional 186,883 shares in the last quarter. Institutional investors own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALXO. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group assumed coverage on shares of ALX Oncology in a research report on Thursday, November 13th. They issued a “buy” rating and a $4.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

ALX Oncology Trading Down 5.3%

Shares of ALX Oncology stock opened at $1.26 on Tuesday. ALX Oncology has a 1 year low of $0.40 and a 1 year high of $2.27. The company has a market capitalization of $68.32 million, a price-to-earnings ratio of -0.62 and a beta of 0.53. The business has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.40 and a quick ratio of 2.40.

ALX Oncology (NASDAQ:ALXO) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Research analysts forecast that ALX Oncology will post -2.76 EPS for the current year.

About ALX Oncology

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company’s mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology’s pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.