ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Up 144.0% in June

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALXO shares. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company initiated coverage on shares of ALX Oncology in a research note on Thursday, March 19th. They set an “overweight” rating and a $5.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a report on Friday, June 26th. Five equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.60.

Institutional Trading of ALX Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. acquired a new position in shares of ALX Oncology in the first quarter worth $46,000. AQR Capital Management LLC raised its stake in shares of ALX Oncology by 183.6% in the first quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after acquiring an additional 77,065 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company’s stock valued at $806,000 after acquiring an additional 186,883 shares in the last quarter. Jane Street Group LLC purchased a new position in ALX Oncology in the second quarter valued at $84,000. Finally, Bridgeway Capital Management LLC acquired a new position in ALX Oncology during the 3rd quarter worth $66,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

ALX Oncology Price Performance

NASDAQ:ALXO opened at $1.97 on Tuesday. The stock has a 50 day moving average of $1.88 and a two-hundred day moving average of $1.83. ALX Oncology has a 12 month low of $0.44 and a 12 month high of $2.66. The firm has a market cap of $265.08 million, a P/E ratio of -1.32 and a beta of 0.42. 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 (NASDAQ:ALXO) last issued its earnings results on Friday, May 8th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). On average, analysts expect that ALX Oncology will post -0.66 earnings per share for the current fiscal 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.