ALX Oncology Holdings Inc. Sees Significant Rise in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has experienced a notable increase in short interest during December. As of December 15th, short interest reached a total of 8,390,000 shares, which is an increase of 17.0% from the 7,170,000 shares reported on November 30th. Currently, 24.4% of the total shares of ALX Oncology are sold short. With an average trading volume of 937,300 shares, the short-interest ratio stands at approximately 9.0 days.

Changes in Analyst Ratings

Several analysts have provided their insights regarding ALX Oncology recently. On December 18th, Cantor Fitzgerald affirmed their "overweight" rating for the stock. However, Jefferies Financial Group downgraded the rating from "buy" to "hold" and decreased the target price from $12.00 to $2.00 in a report issued on December 19th. In contrast, HC Wainwright maintained a "buy" rating with a price target of $25.00 for ALX Oncology shares, as noted in their research on December 18th. Currently, MarketBeat.com data indicates that three research analysts have rated the stock with a hold rating, while three others have expressed a buy rating, leading to an overall average rating of "Moderate Buy" and a price target of $8.50.

Insider Transactions

In related developments, Director Rekha Hemrajani made a significant purchase of 30,000 shares of ALX Oncology's stock on December 2nd. The shares were acquired at an average price of $1.55 per share, totaling $46,500. This purchase has increased Hemrajani's total holdings in the company to 33,000 shares, valued at around $51,150, reflecting a substantial increase in their ownership of the stock. This transaction was disclosed in a filing with the SEC.

Institutional Investor Activity

Recent changes in positions by institutional investors have also been noteworthy. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ALX Oncology by a remarkable 394.8% during the second quarter, now holding 6,517 shares valued at $39,000 after purchasing an additional 5,200 shares. HSBC Holdings PLC took a new position in ALX Oncology during the same period, valued at about $63,000. AQR Capital Management LLC also increased its holdings by 50.7%, now owning 18,079 shares worth $109,000 after acquiring an additional 6,080 shares. SG Americas Securities LLC enhanced its ownership by 33.6%, holding 27,394 shares valued at $50,000. Lastly, Algert Global LLC established a new stake in ALX Oncology worth $249,000 during the second quarter. Overall, institutional investors collectively own approximately 97.97% of the company's stock.

Market Performance of ALX Oncology

During trading on Friday, ALX Oncology shares dropped by $0.07, ending the session at $1.62. A total of 470,455 shares exchanged hands, compared to the average trading volume of 830,145 shares. Over the past twelve months, the stock has registered a low of $1.19 and a high of $17.83. The company has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $3.04. Its debt-to-equity ratio is 0.07, and it possesses a quick ratio and current ratio of 4.82. ALX Oncology has a market capitalization of $85.44 million, with a P/E ratio of -0.54 and a beta of 1.04.

Company Overview of ALX Oncology

ALX Oncology Holdings Inc. specializes in clinical-stage immuno-oncology, focusing on developing therapies aimed at treating cancer patients in the United States. The company's primary product candidate, Evorpacept, serves as a CD47 blocking therapeutic biologic. Evorpacept is currently undergoing clinical trials in combination with other anti-cancer agents for various cancers, including Gastric/GEJ cancer and urothelial cancer, among others.

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