ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 37.5% in May

ALX Oncology Holdings Inc. (NASDAQ:ALXO) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 1,380,136 shares, a decrease of 37.5% from the April 30th total of 2,206,868 shares. Based on an average trading volume of 713,775 shares, the short-interest ratio is presently 1.9 days. Currently, 1.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALXO. UBS Group began coverage on ALX Oncology in a research note on Friday, March 6th. They issued a “buy” rating and a $6.00 price target for the company. Wall Street Zen raised ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company initiated coverage on ALX Oncology in a research report on Thursday, March 19th. They set an “overweight” rating and a $5.00 target price for the company. Piper Sandler upped their price target on ALX Oncology from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of ALX Oncology in a research report on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.60.

Insider Activity at ALX Oncology

In other news, CEO Jason Lettmann sold 12,311 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $2.17, for a total value of $26,714.87. Following the completion of the transaction, the chief executive officer directly owned 293,609 shares in the company, valued at approximately $637,131.53. This represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vivo Capital LLC bought a new position in shares of ALX Oncology in the 1st quarter worth about $6,385,000. Bank of America Corp DE raised its position in shares of ALX Oncology by 8.6% in the 1st quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock worth $1,158,000 after acquiring an additional 45,938 shares in the last quarter. Redmile Group LLC raised its position in shares of ALX Oncology by 143.9% in the 1st quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock worth $15,968,000 after acquiring an additional 4,699,470 shares in the last quarter. venBio Partners LLC raised its position in shares of ALX Oncology by 32.8% in the 1st quarter. venBio Partners LLC now owns 12,884,638 shares of the company’s stock worth $25,834,000 after acquiring an additional 3,184,713 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in ALX Oncology in the 1st quarter valued at about $5,747,000. 97.97% of the stock is owned by institutional investors.

ALX Oncology Stock Performance

ALXO stock opened at $1.56 on Friday. The stock has a 50-day moving average price of $1.86 and a 200-day moving average price of $1.76. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02. The firm has a market cap of $209.91 million, a PE ratio of -1.05 and a beta of 0.44.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). As a group, equities research analysts expect that ALX Oncology will post -0.66 earnings per share for the current year.

ALX Oncology Company Profile

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company’s mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology’s pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.