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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 6,318,290 shares, an increase of 144.0% from the June 15th total of 2,589,032 shares. Currently, 5.9% of the shares of the company are sold short. Based on an average trading volume of 3,060,345 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

ALXO has been the subject of several analyst reports. Wells Fargo & Company began coverage on shares of ALX Oncology in a report on Thursday, March 19th. They set an “overweight” rating and a $5.00 price target for the company. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.60.

ALX Oncology Trading Up 1.5%

Shares of ALXO opened at $2.00 on Wednesday. ALX Oncology has a twelve month low of $0.44 and a twelve month 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 capitalization of $269.12 million, a P/E ratio of -1.34 and a beta of 0.42. The firm’s 50-day moving average is $1.88 and its two-hundred day moving average is $1.84.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). On average, research analysts predict that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ALX Oncology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vivo Capital LLC purchased a new stake in ALX Oncology during the first quarter worth $6,385,000. Bank of America Corp DE raised its stake in shares of ALX Oncology by 8.6% during the 1st quarter. Bank of America Corp DE now owns 577,783 shares of the company’s stock worth $1,158,000 after buying an additional 45,938 shares during the last quarter. Redmile Group LLC raised its stake in shares of ALX Oncology by 143.9% during the 1st quarter. Redmile Group LLC now owns 7,964,188 shares of the company’s stock worth $15,968,000 after buying an additional 4,699,470 shares during the last quarter. venBio Partners LLC boosted 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 buying an additional 3,184,713 shares in the last quarter. Finally, Orbimed Advisors LLC purchased a new stake in shares of ALX Oncology in the 1st quarter worth about $5,747,000. 97.97% of the stock is owned by institutional investors and hedge funds.

About ALX Oncology

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.