ALX Oncology Holdings Inc. (NASDAQ:ALXO) Short Interest Update

Key Points

• Short interest surged 81.7% in March to 2,222,798 shares (2.1% of shares outstanding), with a short-interest ratio of 2.9 days based on average daily volume.
• Insiders were active: Director Corey S. Goodman purchased 3,184,713 shares for about $5.0M (a 60.45% increase in his stake) while CEO Jason Lettmann sold 12,311 shares; insiders now own 21.0% of the company.
• Analyst consensus is a "Moderate Buy" (five Buys, one Sell) with an average price target of $4.60.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 2,222,798 shares, a growth of 81.7% from the March 15th total of 1,223,050 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 768,037 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of ALX Oncology in a research report on Wednesday, January 21st. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of ALX Oncology in a research report on Tuesday, March 10th. UBS Group assumed coverage on shares of ALX Oncology in a research report on Friday, March 6th. They issued a "buy" rating and a $6.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of ALX Oncology in a research report on Thursday, March 19th. They issued an "overweight" rating and a $5.00 price objective for the company. Finally, Wall Street Zen upgraded shares of ALX Oncology from a "sell" rating to a "hold" rating in a research report on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $4.60.

Insiders Place Their Bets

In other ALX Oncology news, CEO Jason Lettmann sold 12,311 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $2.17, for a total value of $26,714.87. Following the completion of the transaction, the chief executive officer owned 293,609 shares in the company, valued at approximately $637,131.53. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Corey S. Goodman acquired 3,184,713 shares of the firm's stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of $1.57 per share, with a total value of $4,999,999.41. Following the transaction, the director owned 8,453,038 shares of the company's stock, valued at approximately $13,271,269.66. This trade represents a 60.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 21.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALXO. Invesco Ltd. acquired a new position in shares of ALX Oncology during the 1st quarter worth about $46,000. Bridgeway Capital Management LLC acquired a new position in shares of ALX Oncology during the 3rd quarter worth about $66,000. AQR Capital Management LLC raised 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 worth $74,000 after purchasing an additional 77,065 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of ALX Oncology during the 2nd quarter worth about $84,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of ALX Oncology during the 4th quarter worth about $133,000. Institutional investors and hedge funds own 97.97% of the company's stock.

ALX Oncology Price Performance

ALXO opened at $1.70 on Monday. ALX Oncology has a twelve month low of $0.40 and a twelve month high of $2.66. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $2.13 and a 200 day moving average price of $1.71. The company has a market cap of $223.74 million, a PE ratio of -0.89 and a beta of 0.49.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter. Sell-side analysts expect that ALX Oncology will post -2.76 earnings per share for the current fiscal year.

About ALX Oncology

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.

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