ALX Oncology Holdings Inc. (NASDAQ:ALXO) Experiences Notable Surge in Short Interest

ALX Oncology Holdings Inc. (NASDAQ:ALXO) has recently seen a significant uptick in short interest during December. By December 15, the total short interest reached 8,390,000 shares, marking an increase of 17.0% from the 7,170,000 shares reported on November 30. At present, 24.4% of the company's shares are sold short. With an average trading volume of 937,300 shares, the current short-interest ratio stands at 9.0 days.

Changes in Analyst Ratings

Several analysts have weighed in on ALX Oncology. Cantor Fitzgerald reaffirmed an "overweight" rating for the company's shares in a report released on December 18. Meanwhile, Jefferies Financial Group downgraded ALX Oncology from a "buy" to a "hold" and adjusted their price target from $12.00 to $2.00 on December 19. Additionally, HC Wainwright maintained a "buy" rating and set a target price of $25.00 for the shares on December 18. Currently, three analysts have issued a hold rating, while three others have given it a buy rating. According to information from MarketBeat.com, the average rating for the company is "Moderate Buy" with a price target of $8.50.

Insider Activity at ALX Oncology

In related developments, Director Rekha Hemrajani acquired 30,000 shares of ALX Oncology on December 2. The purchase occurred at an average price of $1.55 per share, leading to a total investment of $46,500. Following this transaction, the director now holds 33,000 shares, valued at approximately $51,150, reflecting a dramatic 1,000% increase in ownership. The transaction details have been filed with the SEC. It is noteworthy that corporate insiders hold 33.40% of the total shares.

Institutional Investment Moves

Various hedge funds and institutional investors have recently adjusted their positions in ALX Oncology. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in the company by a remarkable 394.8% in the second quarter, now owning 6,517 shares valued at $39,000 after adding 5,200 shares. HSBC Holdings PLC also took a new position worth about $63,000 during the same period. AQR Capital Management LLC boosted its holdings by 50.7%, acquiring an additional 6,080 shares for a total of 18,079 shares worth $109,000. SG Americas Securities LLC increased its stake by 33.6% in the third quarter, now holding 27,394 shares valued at $50,000. Finally, Algert Global LLC bought a new position worth $249,000 in the second quarter. Overall, institutional investors command a significant 97.97% of ALX Oncology's stock.

ALX Oncology's Stock Performance

On Friday, ALXO's stock closed at $1.62, down $0.07. Trading volume reached 470,455 shares, compared to an average of 830,145. The stock has a 12-month low of $1.19 and a high of $17.83, with a 50-day simple moving average of $1.52 and a 200-day moving average of $3.04. Financial metrics show a debt-to-equity ratio of 0.07, and both the quick and current ratios stand at 4.82. The company's market capitalization is approximately $85.44 million, with a P/E ratio of -0.54 and a beta of 1.04.

Overview of ALX Oncology

ALX Oncology Holdings Inc. operates as a clinical-stage immuno-oncology entity, focusing on developing cancer therapies across the United States. Its leading candidate is Evorpacept, designed to block CD47 and is being evaluated in various Phase 1 and Phase 2 clinical studies in combination with other cancer treatments for gastric/GEJ cancer, urothelial cancer, and head and neck squamous cell carcinoma.

Additional Resources

• Five stocks we like better than ALX Oncology
• Understanding Overbought Stocks: Should You Trade Them?
• Expanding Gaming Industry: Stock Opportunities
• What Are Dividend Champions? Investment Insights
• Three Unique ETFs for Potential Growth in 2025
• What Makes a Stock Attractive for Dividends?
• Berkshire Hathaway Increases Stake in Oxy in December

ALX, Oncology, Investors