Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Declines By 9.4%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a significant decrease in short interest during the month of 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. Currently, 24.6% of the company’s shares are short sold. Based on an average daily volume of 984,300 shares, the short-interest ratio is currently 7.7 days.

ALX Oncology Stock Up 11.9 %

NASDAQ:ALXO traded up $0.16 during mid-day trading on Friday, hitting $1.46. 1,033,686 shares of the company’s stock traded hands, compared to its average volume of 1,080,295. The company has a fifty day moving average of $1.64 and a 200 day moving average of $2.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. ALX Oncology has a twelve month low of $1.19 and a twelve month high of $17.83. The company has a market capitalization of $77.00 million, a P/E ratio of -0.49 and a beta of 0.98.

Insider Transactions at ALX Oncology

In other news, Director Rekha Hemrajani bought 30,000 shares of the stock in a transaction on Monday, December 2nd. The stock was acquired at an average cost of $1.55 per share, for a total transaction of $46,500.00. Following the acquisition, the director now owns 33,000 shares of the company’s stock, valued at $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 14,443 shares of company stock worth $23,309. Insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds have recently modified their holdings of ALXO. JSF Financial LLC acquired a new position in ALX Oncology during the 4th quarter valued at approximately $29,000. Barclays PLC increased its position in shares of ALX Oncology by 243.6% in the 3rd quarter. Barclays PLC now owns 59,502 shares of the company’s stock valued at $107,000 after acquiring an additional 42,185 shares during the period. XTX Topco Ltd acquired a new position in shares of ALX Oncology in the 3rd quarter valued at $578,000. Wellington Management Group LLP raised its stake in ALX Oncology by 15.2% in the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company’s stock worth $305,000 after acquiring an additional 22,114 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in ALX Oncology by 308.4% during the 3rd quarter. Verition Fund Management LLC now owns 133,025 shares of the company’s stock worth $242,000 after acquiring an additional 100,454 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALXO shares. UBS Group reduced their price target on shares of ALX Oncology from $4.00 to $2.20 and set a “buy” rating for the company in a report on Monday, January 27th. HC Wainwright dropped 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a report on Friday, January 24th. Finally, Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ALX Oncology has a consensus rating of “Moderate Buy” and a consensus target price of $3.05.

About ALX Oncology

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.