ALX Oncology Holdings Inc. (NASDAQ:ALXO) Sees Significant Decrease in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 7,840,000 shares, a drop of 18.2% from the October 15th total of 9,590,000 shares. Currently, 25.9% of the company’s stock are sold short. Based on an average daily volume of 701,400 shares, the days-to-cover ratio is presently 11.2 days.

Analysts Set New Price Targets

ALXO has been the subject of a number of analyst reports. Lifesci Capital cut ALX Oncology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $3.00 price objective (down previously from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a research report on Tuesday. UBS Group lowered their price target on ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co acquired a new stake in ALX Oncology during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new position in shares of ALX Oncology during the first quarter worth about $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after acquiring an additional 5,200 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in ALX Oncology in the 2nd quarter valued at about $63,000. Finally, AQR Capital Management LLC increased its position in ALX Oncology by 50.7% during the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock worth $109,000 after buying an additional 6,080 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

ALX Oncology Stock Performance

ALXO traded down $0.06 during trading on Friday, reaching $1.28. 294,713 shares of the company’s stock were exchanged, compared to its average volume of 777,672. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $67.25 million, a P/E ratio of -0.45 and a beta of 1.03. ALX Oncology has a fifty-two week low of $1.26 and a fifty-two week high of $17.83. The business has a 50 day moving average price of $1.70 and a 200 day moving average price of $5.68.

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.