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

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 6,318,290 shares, an increase 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 short-interest ratio is presently 2.1 days. Currently, 5.9% of the shares of the stock are sold short.

ALX Oncology Stock Up 1.5%

ALXO opened at $2.03 on Thursday. ALX Oncology has a twelve month low of $0.44 and a twelve month high of $2.66. The company has a quick ratio of 7.21, a current ratio of 7.21 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.84. The company has a market cap of $273.16 million, a PE ratio of -1.36 and a beta of 0.42.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Sell-side analysts expect that ALX Oncology will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of ALX Oncology

Large investors have recently made changes to their positions in the company. Invesco Ltd. acquired a new position in ALX Oncology in the 1st quarter valued at $46,000. Bridgeway Capital Management LLC purchased a new stake in shares of ALX Oncology during the third quarter worth $66,000. AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 77,065 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ALX Oncology in the second quarter valued at about $84,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of ALX Oncology in the fourth quarter valued at about $133,000. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALXO shares. Wells Fargo & Company started coverage on ALX Oncology in a research report on Thursday, March 19th. They set an “overweight” rating and a $5.00 price target on the stock. Wall Street Zen upgraded ALX Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ALX Oncology in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.60.

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.