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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 7,840,000 shares, a decrease of 18.2% from the October 15th total of 9,590,000 shares. Currently, 25.9% of the shares of the company are short sold. Based on an average daily trading 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 several research reports. Lifesci Capital lowered shares of ALX Oncology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ALX Oncology in a research report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of ALX Oncology in a report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a research note on Tuesday, August 13th. Finally, UBS Group decreased their target price 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, ALX Oncology presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

ALX Oncology Price Performance

ALXO stock opened at $1.29 on Friday. The company has a fifty day simple moving average of $1.69 and a two-hundred day simple moving average of $5.57. ALX Oncology has a 52 week low of $1.25 and a 52 week high of $17.83. 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 firm has a market capitalization of $68.04 million, a P/E ratio of -0.43 and a beta of 1.03.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co purchased a new stake in ALX Oncology during the first quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new position in shares of ALX Oncology during the first quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ALX Oncology by 394.8% during 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 during the last quarter. SG Americas Securities LLC raised its holdings in shares of ALX Oncology by 33.6% in the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after buying an additional 6,888 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of ALX Oncology during the 2nd quarter worth approximately $63,000. Institutional investors own 97.97% of the company’s stock.

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.