By otakuyassine3@gmail.com 
ALX Oncology Holdings Inc. (NASDAQ:ALXO – Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 8,390,000 shares, an increase of 17.0% from the November 30th total of 7,170,000 shares. Based on an average daily trading volume, of 937,300 shares, the days-to-cover ratio is presently 9.0 days. Currently, 24.4% of the company’s shares are sold short.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of ALX Oncology in a research report on Wednesday, December 18th. Jefferies Financial Group cut ALX Oncology from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $2.00 in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of ALX Oncology in a research note on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.50.
View Our Latest Stock Report on ALX Oncology
Insider Transactions at ALX Oncology
In related news, Director Rekha Hemrajani purchased 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was bought at an average cost of $1.55 per share, with a total value of $46,500.00. Following the completion of the purchase, the director now directly owns 33,000 shares in the company, valued at approximately $51,150. This represents a 1,000.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 33.40% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ALX Oncology by 394.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,517 shares of the company’s stock worth $39,000 after acquiring an additional 5,200 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of ALX Oncology during the second quarter valued at approximately $63,000. AQR Capital Management LLC grew its stake in shares of ALX Oncology by 50.7% during the second quarter. AQR Capital Management LLC now owns 18,079 shares of the company’s stock valued at $109,000 after buying an additional 6,080 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of ALX Oncology by 33.6% during the 3rd quarter. SG Americas Securities LLC now owns 27,394 shares of the company’s stock worth $50,000 after acquiring an additional 6,888 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in ALX Oncology in the second quarter worth $249,000. Institutional investors own 97.97% of the company’s stock.
ALX Oncology Price Performance
ALXO traded down $0.07 during trading on Friday, reaching $1.62. 470,455 shares of the company traded hands, compared to its average volume of 830,145. ALX Oncology has a 12-month low of $1.19 and a 12-month high of $17.83. The firm has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $3.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.82 and a current ratio of 4.82. The company has a market cap of $85.44 million, a P/E ratio of -0.54 and a beta of 1.04.
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.
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