Short Interest in ALX Oncology Holdings Inc. (NASDAQ:ALXO) Rises By 45.7%

ALX Oncology Holdings Inc. (NASDAQ:ALXO) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 4,240,000 shares, an increase of 45.7% from the May 31st total of 2,910,000 shares. Based on an average trading volume of 730,600 shares, the days-to-cover ratio is presently 5.8 days. Currently, 14.2% of the company’s stock are sold short.

ALX Oncology Trading Up 3.3 %

Shares of ALXO traded up $0.20 during mid-day trading on Friday, reaching $6.03. The company’s stock had a trading volume of 3,587,184 shares, compared to its average volume of 1,052,206. The business has a fifty day moving average of $12.02 and a 200 day moving average of $13.23. ALX Oncology has a 1 year low of $3.94 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.21 and a quick ratio of 5.21.

ALX Oncology (NASDAQ:ALXO) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.16. Sell-side analysts predict that ALX Oncology will post -2.89 EPS for the current fiscal year.

Insider Buying and Selling

In other ALX Oncology news, CFO Peter S. Garcia purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the completion of the purchase, the chief financial officer now owns 122,348 shares in the company, valued at approximately $1,043,628.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other ALX Oncology news, CFO Peter S. Garcia purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $8.53 per share, for a total transaction of $102,360.00. Following the completion of the purchase, the chief financial officer now owns 122,348 shares in the company, valued at approximately $1,043,628.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jaume Pons sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $11.15, for a total value of $223,000.00. Following the completion of the transaction, the insider now owns 628,359 shares in the company, valued at approximately $7,006,202.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,000 shares of company stock worth $1,611,280. 33.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ALX Oncology

Several hedge funds have recently bought and sold shares of ALXO. CANADA LIFE ASSURANCE Co acquired a new position in ALX Oncology during the first quarter worth $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of ALX Oncology in the fourth quarter valued at about $28,000. EntryPoint Capital LLC bought a new stake in shares of ALX Oncology in the first quarter valued at about $32,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of ALX Oncology by 445.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,762 shares of the company’s stock valued at $86,000 after buying an additional 4,706 shares during the period. Finally, Barclays PLC lifted its stake in shares of ALX Oncology by 57.1% in the third quarter. Barclays PLC now owns 26,964 shares of the company’s stock valued at $129,000 after buying an additional 9,796 shares during the period. 97.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALXO has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of ALX Oncology in a research note on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, May 29th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $14.00 target price (up from $10.00) on shares of ALX Oncology in a research report on Friday, March 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.67.

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.