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

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ALXO. Jefferies Financial Group lowered shares of ALX Oncology from a "buy" rating to a "hold" rating and reduced their price objective for the company from $12.00 to $2.00 in a research note on Thursday, December 19th. HC Wainwright reduced their price target on ALX Oncology from $25.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, January 24th. UBS Group dropped their price objective on ALX Oncology from $4.00 to $2.20 and set a "buy" rating on the stock in a report on Monday, January 27th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of ALX Oncology in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.05.

ALX Oncology Price Performance

ALX Oncology stock traded down $0.14 during midday trading on Monday, hitting $1.32. 1,067,728 shares of the company's stock were exchanged, compared to its average volume of 1,205,400. The company has a market cap of $69.62 million, a P/E ratio of -0.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The stock has a 50-day moving average price of $1.64 and a two-hundred day moving average price of $2.11. ALX Oncology has a 52-week low of $1.19 and a 52-week high of $17.83.

Insiders Place Their Bets

In other ALX Oncology news, Director Rekha Hemrajani bought 30,000 shares of ALX Oncology stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $1.55 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the director now directly owns 33,000 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Insiders sold 14,443 shares of company stock valued at $23,309 over the last ninety days. 33.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. JSF Financial LLC purchased a new position in ALX Oncology in the 4th quarter worth approximately $29,000. SG Americas Securities LLC grew its position in ALX Oncology by 33.6% in the third quarter. SG Americas Securities LLC now owns 27,394 shares of the company's stock worth $50,000 after acquiring an additional 6,888 shares in the last quarter. Hsbc Holdings PLC bought a new position in ALX Oncology in the second quarter valued at $63,000. GSA Capital Partners LLP purchased a new stake in ALX Oncology during the third quarter valued at about $88,000. Finally, Barclays PLC lifted its stake in ALX Oncology by 243.6% during the third quarter. Barclays PLC now owns 59,502 shares of the company's stock worth $107,000 after purchasing an additional 42,185 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

About ALX Oncology

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.