ALX Oncology Holdings Inc. (NASDAQ:ALXO) Sees Large Increase in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 9,080,000 shares, a growth of 17.2% from the July 15th total of 7,750,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is currently 7.1 days. Approximately 30.5% of the shares of the stock are short sold.

ALX Oncology Stock Down 4.2 %

NASDAQ ALXO traded down $0.11 during trading on Friday, hitting $2.54. The stock had a trading volume of 845,086 shares, compared to its average volume of 821,045. ALX Oncology has a 12 month low of $2.42 and a 12 month high of $17.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.21 and a current ratio of 5.21. The company’s 50-day moving average price is $5.72 and its two-hundred day moving average price is $11.03. The company has a market capitalization of $132.33 million, a PE ratio of -0.68 and a beta of 1.06.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.01. As a group, sell-side analysts forecast that ALX Oncology will post -2.89 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on ALXO. Lifesci Capital downgraded shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. UBS Group lowered their price objective on shares of ALX Oncology from $25.00 to $4.00 and set a “buy” rating for the company in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of ALX Oncology in a report on Tuesday, August 13th. Stifel Nicolaus reissued a “hold” rating and issued a $3.00 target price (down from $5.00) on shares of ALX Oncology in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Insider Activity at ALX Oncology

In related news, CFO Peter S. Garcia purchased 12,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $8.53 per share, with a total value of $102,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 122,348 shares in the company, valued at approximately $1,043,628.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ALX Oncology news, CFO Peter S. Garcia purchased 12,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was bought at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the transaction, the chief financial officer now directly owns 122,348 shares in the company, valued at $1,043,628.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaume Pons sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $7.90, for a total transaction of $158,000.00. Following the completion of the transaction, the insider now directly owns 593,447 shares in the company, valued at $4,688,231.30. The disclosure for this sale can be found here. Insiders sold 48,398 shares of company stock valued at $368,643 in the last three months. Corporate insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of ALX Oncology in the fourth quarter valued at about $28,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of ALX Oncology during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new stake in shares of ALX Oncology in the 1st quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ALX Oncology by 394.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock valued at $39,000 after buying an additional 5,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in ALX Oncology by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,587 shares of the company’s stock worth $107,000 after buying an additional 3,825 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors and hedge funds.

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.