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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALXO. Bridgeway Capital Management LLC bought a new position in shares of ALX Oncology in the third quarter worth about $66,000. Invesco Ltd. acquired a new position in ALX Oncology during the 1st quarter worth approximately $46,000. AQR Capital Management LLC lifted its stake in ALX Oncology by 183.6% in the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares during the last quarter. Two Sigma Investments LP boosted its position in ALX Oncology by 26.9% in the third 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. Finally, Almitas Capital LLC grew its stake in shares of ALX Oncology by 10.6% during the first quarter. Almitas Capital LLC now owns 1,353,141 shares of the company’s stock worth $843,000 after buying an additional 130,196 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Analyst Ratings Changes

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

ALX Oncology Stock Performance

Shares of NASDAQ:ALXO 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 stock has a market capitalization of $68.32 million, a price-to-earnings ratio of -0.62 and a beta of 0.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.40 and a quick ratio of 2.40. The company’s 50 day simple moving average is $1.44 and its 200 day simple moving average is $1.13.

ALX Oncology (NASDAQ:ALXO) last issued its earnings results on Friday, November 7th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). As a group, research analysts predict that ALX Oncology will post -2.76 EPS for the current fiscal year.

ALX Oncology Company Profile

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.