ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Down 63.6% in August

Key Points

• Short interest for ALX Oncology decreased by 63.6% in August, with a total of 1,630,000 shares being sold short, indicating reduced bearish sentiment among investors.
• Analysts hold a consensus rating of "Moderate Buy" for ALX Oncology, with a current average target price of $3.30 despite a downgrade by Wall Street Zen to a "sell" rating.
• Institutional investors currently own 97.97% of ALX Oncology's stock, reflecting substantial interest from hedge funds and investment firms in the company.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 1,630,000 shares, adecreaseof63.6% from the July 31st total of 4,480,000 shares. Based on an average daily volume of 892,500 shares, the days-to-cover ratio is presently 1.8 days. Approximately4.4% of the shares of the stock are sold short. Approximately4.4% of the shares of the stock are sold short. Based on an average daily volume of 892,500 shares, the days-to-cover ratio is presently 1.8 days.

ALX Oncology Stock Down 8.6%

Shares of NASDAQ ALXO traded down $0.11 on Monday, hitting $1.12. The company had a trading volume of 263,900 shares, compared to its average volume of 854,712. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 0.11. ALX Oncology has a 12-month low of $0.40 and a 12-month high of $2.36. The business has a 50 day moving average of $0.70 and a two-hundred day moving average of $0.65. The firm has a market capitalization of $59.71 million, a P/E ratio of -0.51 and a beta of 1.10.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). As a group, equities research analysts forecast that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

Institutional Trading of ALX Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Almitas Capital LLC boosted its holdings in shares of ALX Oncology by 10.6% during the 1st quarter. Almitas Capital LLC now owns 1,353,141 shares of the company's stock valued at $843,000 after acquiring an additional 130,196 shares in the last quarter. Acadian Asset Management LLC boosted its stake in ALX Oncology by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock valued at $806,000 after purchasing an additional 186,883 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of ALX Oncology by 492.9% in the 4th quarter. Bank of America Corp DE now owns 1,035,326 shares of the company's stock worth $1,729,000 after buying an additional 860,703 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of ALX Oncology by 64.6% in the 4th quarter. Two Sigma Advisers LP now owns 823,900 shares of the company's stock worth $1,376,000 after buying an additional 323,400 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of ALX Oncology by 6.7% in the 4th quarter. Two Sigma Investments LP now owns 704,131 shares of the company's stock worth $1,176,000 after purchasing an additional 44,072 shares during the period. Institutional investors own 97.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALXO shares. Wall Street Zen lowered ALX Oncology from a "hold" rating to a "sell" rating in a report on Friday, June 6th. UBS Group lowered their price target on ALX Oncology from $1.20 to $1.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $3.30.

ALX Oncology Company Profile

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.