ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 37.5% in May

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 1,380,136 shares, a decline of 37.5% from the April 30th total of 2,206,868 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 713,775 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

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

Insider Transactions at ALX Oncology

In related news, CEO Jason Lettmann sold 12,311 shares of the company’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 transaction of $26,714.87. Following the completion of the transaction, the chief executive officer directly owned 293,609 shares in the company, valued at $637,131.53. This represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ALX Oncology

Several institutional investors and hedge funds have recently bought and sold shares of ALXO. Bridgeway Capital Management LLC purchased a new stake in ALX Oncology in the third quarter worth $66,000. Invesco Ltd. bought a new position in shares of ALX Oncology during the first quarter valued at $46,000. OMERS ADMINISTRATION Corp bought a new position in shares of ALX Oncology during the first quarter valued at $150,000. Seven Fleet Capital Management LP bought a new stake in ALX Oncology in the 4th quarter worth about $133,000. Finally, AQR Capital Management LLC increased its position in shares of ALX Oncology by 183.6% during the 1st quarter. AQR Capital Management LLC now owns 119,050 shares of the company’s stock valued at $74,000 after purchasing an additional 77,065 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Stock Performance

Shares of ALXO stock opened at $1.78 on Wednesday. The company has a current ratio of 7.21, a quick ratio of 7.21 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $239.52 million, a P/E ratio of -1.19 and a beta of 0.44. ALX Oncology has a 12 month low of $0.40 and a 12 month high of $2.66. The firm’s 50 day moving average is $1.89 and its 200 day moving average is $1.75.

ALX Oncology (NASDAQ:ALXO) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). On average, sell-side analysts anticipate that ALX Oncology will post -0.66 earnings per share for the current year.

ALX Oncology Company Profile

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.