Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Drops By 18.2%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 7,840,000 shares, a decrease of 18.2% from the October 15th total of 9,590,000 shares. Approximately 25.9% of the shares of the company are sold short. Based on an average trading volume of 701,400 shares, the days-to-cover ratio is currently 11.2 days.

Institutional Trading of ALX Oncology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC lifted its holdings in ALX Oncology by 308.4% during the third quarter. Verition Fund Management LLC now owns 133,025 shares of the company’s stock worth $242,000 after acquiring an additional 100,454 shares during the period. Walleye Capital LLC lifted its position in shares of ALX Oncology by 110.3% during the 3rd quarter. Walleye Capital LLC now owns 230,875 shares of the company’s stock valued at $420,000 after buying an additional 121,113 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in ALX Oncology by 207.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 83,042 shares of the company’s stock worth $151,000 after acquiring an additional 56,028 shares during the last quarter. GSA Capital Partners LLP bought a new stake in ALX Oncology in the 3rd quarter valued at about $88,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of ALX Oncology in the third quarter worth about $469,000. 97.97% of the stock is owned by institutional investors.

ALX Oncology Trading Down 4.1 %

Shares of ALXO traded down $0.06 during mid-day trading on Friday, reaching $1.28. 294,713 shares of the company were exchanged, compared to its average volume of 777,672. ALX Oncology has a 52 week low of $1.26 and a 52 week high of $17.83. 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 business has a 50 day simple moving average of $1.70 and a two-hundred day simple moving average of $5.68. The stock has a market capitalization of $67.25 million, a PE ratio of -0.45 and a beta of 1.03.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALXO. UBS Group decreased their target price on ALX Oncology from $25.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Lifesci Capital cut ALX Oncology from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus reaffirmed a “hold” rating and set a $3.00 price target (down from $5.00) on shares of ALX Oncology in a research report on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of ALX Oncology in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of ALX Oncology in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, ALX Oncology currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

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.