ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Up 32.0% in December

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant increase in short interest in the month of 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 shares are sold short. Based on an average trading volume of 212,826 shares, the days-to-cover ratio is presently 4.9 days. Based on an average trading volume of 212,826 shares, the days-to-cover ratio is presently 4.9 days. Approximately 2.4% of the company’s shares are sold short.

Institutional Investors Weigh In On ALX Oncology

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. purchased a new stake in ALX Oncology during the 3rd quarter valued at about $1,195,000. Two Sigma Investments LP increased 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 worth $1,110,000 after buying an additional 128,737 shares during the period. Bridgeway Capital Management LLC purchased a new position in ALX Oncology during the 3rd quarter worth approximately $66,000. Jane Street Group LLC purchased a new position in ALX Oncology during the 2nd quarter worth approximately $84,000. Finally, Acadian Asset Management LLC lifted its stake in ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares during the period. 97.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALXO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Jefferies Financial Group began coverage on ALX Oncology in a research report on Thursday, November 13th. They set a “buy” rating and a $4.00 target price on the stock. Finally, Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research note on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $3.50.

ALX Oncology Trading Down 5.6%

ALX Oncology stock opened at $1.19 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.40 and a current ratio of 2.40. The stock has a market cap of $64.52 million, a PE ratio of -0.59 and a beta of 0.53. The stock has a 50-day moving average of $1.43 and a two-hundred day moving average of $1.13. ALX Oncology has a one year low of $0.40 and a one year high of $2.27.

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