Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Decreases By 6.7%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 9,320,000 shares, a drop of 6.7% from the September 15th total of 9,990,000 shares. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is currently 8.1 days. Approximately 30.9% of the company’s shares are short sold.

Institutional Investors Weigh In On ALX Oncology

Hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co acquired a new stake in shares of ALX Oncology in the 1st quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in shares of ALX Oncology during the 1st quarter worth $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ALX Oncology by 394.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after purchasing an additional 5,200 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of ALX Oncology by 66.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,587 shares of the company’s stock worth $107,000 after purchasing an additional 3,825 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of ALX Oncology during the 2nd quarter worth $63,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALXO. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of ALX Oncology in a research report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Monday, August 12th. 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, August 16th. Lifesci Capital cut shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price objective (down previously from $5.00) on shares of ALX Oncology in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.50.

ALX Oncology Price Performance

ALX Oncology stock opened at $1.51 on Friday. The firm has a market cap of $78.67 million, a PE ratio of -0.41 and a beta of 1.00. ALX Oncology has a 52-week low of $1.42 and a 52-week high of $17.83. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $2.09 and its two-hundred day moving average is $7.37.

ALX Oncology (NASDAQ:ALXO) last released its earnings results on Thursday, August 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.01. On average, research analysts expect that ALX Oncology will post -3.04 EPS for the current fiscal year.

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.