ALX Oncology Holdings Inc. Sees Marked Rise in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) experienced a notable increase in short interest during December. By December 15th, the total short interest rose to 8,390,000 shares, marking a significant 17.0% increase from the 7,170,000 shares reported on November 30th. Presently, short sales account for 24.4% of the company’s total shares. With an average daily trading volume of 937,300 shares, the days-to-cover ratio currently stands at 9.0 days.

Recent Analyst Ratings

In the latest evaluations from analysts, Cantor Fitzgerald maintained an "overweight" rating for ALX Oncology on December 18th. However, Jefferies Financial Group downgraded their rating from "buy" to "hold" and adjusted their price target from $12.00 down to $2.00 on December 19th. On the same day, HC Wainwright reaffirmed a "buy" rating and set a price target of $25.00 for the stock. Out of the analysts covering the stock, three have given a hold rating while three others have rated it as a buy. According to MarketBeat.com, the stock holds an average rating of "Moderate Buy" along with an average price target of $8.50.

Insider Activity

In a recent development regarding insider transactions, Director Rekha Hemrajani purchased 30,000 shares of ALX Oncology on December 2nd at an average price of $1.55 per share, amounting to a total investment of $46,500. Following this purchase, the director's total ownership in the company increased significantly to 33,000 shares, valued at approximately $51,150. This transaction indicated a substantial increase of 1,000% in ownership. The details of this transaction have been disclosed in a filing with the SEC. Currently, corporate insiders hold 33.40% of the company’s shares.

Institutional Movements

Several institutional investors have made recent adjustments to their holdings in ALX Oncology. Zurcher Kantonalbank Zurich Cantonalbank increased its stake by an impressive 394.8% during the second quarter, owning 6,517 shares valued at $39,000 after acquiring an additional 5,200 shares. Additionally, HSBC Holdings PLC initiated a new position worth approximately $63,000 in the same quarter. AQR Capital Management LLC also increased its stake by 50.7%, owning 18,079 shares valued at $109,000, after adding 6,080 shares. Furthermore, SG Americas Securities LLC grew its holdings by 33.6% in the third quarter. After acquiring 6,888 additional shares, they now control 27,394 shares worth $50,000. Algert Global LLC also entered a new position during the second quarter amounting to $249,000. Overall, institutional investors currently hold around 97.97% of the company’s stock.

Stock Performance of ALX Oncology

On the latest trading day, ALX Oncology shares experienced a slight decline of $0.07, closing at $1.62. A total of 470,455 shares were exchanged, compared to an average volume of 830,145 shares. Over the last year, the stock has seen a low of $1.19 and a high of $17.83. The company’s fifty-day simple moving average stands at $1.52, while the 200-day simple moving average is $3.04. Financially, ALX Oncology has a market capitalization of $85.44 million, a debt-to-equity ratio of 0.07, and a current ratio of 4.82.

About ALX Oncology Holdings Inc.

ALX Oncology Holdings Inc. is a clinical-stage immuno-oncology company that specializes in developing therapeutic solutions for cancer patients within the United States. Their leading product candidate, Evorpacept, is a CD47 blocking therapeutic biologic that is being researched as a combination treatment with various anti-cancer agents. This includes studies such as ASPEN-06, which is in Phase 2 for Gastric/GEJ cancer, and ASPEN-07, which is in Phase 1 for urothelial cancer, along with ASPEN-03 and ASPEN-04, both in Phase 2 for head and neck squamous cell carcinoma.

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