ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 9.4% in December

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 7,600,000 shares, a decline of 9.4% from the December 15th total of 8,390,000 shares. Based on an average trading volume of 984,300 shares, the short-interest ratio is currently 7.7 days. Approximately 24.6% of the shares of the stock are short sold.

Analyst Ratings Changes

ALXO has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of ALX Oncology in a report on Wednesday, December 18th. Jefferies Financial Group cut ALX Oncology from a "buy" rating to a "hold" rating and reduced their target price for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a "buy" rating and set a $25.00 price objective on shares of ALX Oncology in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.50.

ALX Oncology Trading Up 6.7 %

ALXO stock traded up $0.11 during midday trading on Friday, hitting $1.74. The company had a trading volume of 578,523 shares, compared to its average volume of 735,856. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.07. ALX Oncology has a 52 week low of $1.19 and a 52 week high of $17.83. The stock has a market cap of $91.77 million, a price-to-earnings ratio of -0.58 and a beta of 0.98. The stock's 50 day moving average price is $1.58 and its 200 day moving average price is $2.56.

Insider Activity at ALX Oncology

In related news, Director Rekha Hemrajani acquired 30,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were bought at an average cost of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the transaction, the director now owns 33,000 shares in the company, valued at approximately $51,150. This trade represents a 1,000.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 14,443 shares of company stock valued at $23,309. Corporate insiders own 33.40% of the company's stock.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds and other institutional investors have recently modified their holdings of ALXO. Rhumbline Advisers raised its position in ALX Oncology by 10.8% during the 2nd quarter. Rhumbline Advisers now owns 55,220 shares of the company's stock valued at $333,000 after purchasing an additional 5,360 shares during the last quarter. AQR Capital Management LLC raised its holdings in ALX Oncology by 50.7% in the 2nd quarter. AQR Capital Management LLC now owns 18,079 shares of the company's stock worth $109,000 after purchasing an additional 6,080 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of ALX Oncology by 33.6% in the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company's stock worth $50,000 after purchasing an additional 6,888 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of ALX Oncology in the 2nd quarter worth about $63,000. Finally, Wellington Management Group LLP boosted its stake in shares of ALX Oncology by 15.2% during the 3rd quarter. Wellington Management Group LLP now owns 167,831 shares of the company's stock valued at $305,000 after purchasing an additional 22,114 shares in the last quarter. 97.97% of the stock is owned by institutional investors.

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.