ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Update

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant decrease in short interest in 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 daily trading volume, of 713,775 shares, the short-interest ratio is currently 1.9 days. Approximately 1.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Insider Transactions at ALX Oncology

In other news, CEO Jason Lettmann sold 12,311 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total value of $26,714.87. Following the transaction, the chief executive officer owned 293,609 shares in the company, valued at approximately $637,131.53. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. purchased a new stake in shares of ALX Oncology in the 1st quarter worth about $46,000. Bridgeway Capital Management LLC purchased a new position in ALX Oncology during the 3rd quarter valued at about $66,000. AQR Capital Management LLC boosted its stake in ALX Oncology by 183.6% during the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock worth $74,000 after acquiring an additional 77,065 shares in the last quarter. Jane Street Group LLC purchased a new stake in ALX Oncology in the second quarter worth about $84,000. Finally, Seven Fleet Capital Management LP purchased a new stake in ALX Oncology in the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

ALX Oncology Trading Up 2.0%

Shares of ALXO opened at $1.70 on Thursday. The firm’s 50-day moving average price is $1.87 and its 200-day moving average price is $1.76. The firm has a market capitalization of $229.16 million, a price-to-earnings ratio of -1.12 and a beta of 0.44. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02. ALX Oncology has a 1-year low of $0.40 and a 1-year high of $2.66.

ALX Oncology (NASDAQ:ALXO) last released 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). Sell-side analysts anticipate that ALX Oncology will post -0.66 EPS for the current year.

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.