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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,860,000 shares, an increase of 38.8% from the September 30th total of 1,340,000 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 968,700 shares, the short-interest ratio is presently 1.9 days. Based on an average trading volume of 968,700 shares, the short-interest ratio is presently 1.9 days. Approximately 5.0% of the shares of the stock are short sold.

ALX Oncology Price Performance

ALX Oncology stock traded up $0.06 during mid-day trading on Monday, hitting $1.60. The company’s stock had a trading volume of 81,715 shares, compared to its average volume of 802,378. The stock’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $0.87. The stock has a market capitalization of $85.41 million, a P/E ratio of -0.71 and a beta of 1.23. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.27.

ALX Oncology (NASDAQ:ALXO) last issued its earnings results on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Research analysts forecast that ALX Oncology will post -2.76 earnings per share for the current year.

Insider Activity

In other news, CEO Jason Lettmann acquired 71,163 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was acquired at an average price of $1.08 per share, with a total value of $76,856.04. Following the completion of the transaction, the chief executive officer directly owned 305,121 shares in the company, valued at approximately $329,530.68. This represents a 30.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALXO. Invesco Ltd. acquired a new position in shares of ALX Oncology during the first 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 acquiring an additional 77,065 shares in the last quarter. Nuveen LLC acquired a new position in shares of ALX Oncology during the 1st quarter worth about $103,000. Jane Street Group LLC bought a new stake in ALX Oncology during the second quarter worth $84,000. Finally, Acadian Asset Management LLC increased its holdings in shares of ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock worth $806,000 after acquiring an additional 186,883 shares during the last quarter. Institutional investors own 97.97% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $3.30.

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.