There was a discernible rise in the number of investors who held short positions in ALX Oncology Holdings INC during February (NASDAQ: ALXO).
As of February 28, the number of shares borrowed to cover short positions increased by 5.2%, going from 3,650,000 shares the day before to 3,840,000. Short positions constitute 21.9% of the total number of shares in issue for the company.
The current short-interest ratio is 22.1 days, and this number was calculated by considering that an average of 174,100 shares are traded daily.
Several hedge funds and institutional investors have made adjustments to previous stock holdings of ALXO in the company over the most recent few months.
Through the third quarter, SG Americas Securities LLC was able to amass an additional 3.7% of the total number of ALX Oncology shares outstanding. SG Americas Securities LLC now has 50,536 shares of the company’s stock, which is currently valued at $484,000 after purchasing an additional 1,815 shares during the period in question.
During the second quarter, Delphia USA INC spent $82,000 to acquire a new holding in ALX Oncology. Swiss bank Zurcher Kantonalbank ALX Oncology received a capital contribution of $50,000 from Zurich Cantonalbank after the third quarter.
During the third quarter, Barclays PLC achieved a 58.5% increase in the proportion of ALX Oncology stock it owned.
Barclays PLC increased its holdings in its stock by purchasing an additional 2,464 shares during the most recent quarter, bringing its total number to 6,677.
Each share of the company’s stock is currently worth $64,000.
Last but certainly not least, during the third quarter, Los Angeles Capital Management LLC increased the amount of ALX Oncology stock owned by 52.7%.
This is certainly not the case and should not be considered the least important development.
Los Angeles Capital Management LLC now has 151,112 shares following the purchase of an additional 52,148 shares during the most recent quarter.
The value of these 151,112 shares brings the company’s overall holdings to $1,446,000.
Institutional investors and hedge funds collectively own 89.39% of the total number of shares in the company, making up the majority of the shareholders.
There has been discussion regarding the stock from the perspectives of several different equity analysts.
ALX Oncology shares had a “buy” rating from UBS Group, but that rating was lowered, and the company’s price objective was reduced from $31.00 to $29.00.
This information was made public on Tuesday when a research note was published in which it was stated.
In a research note published on Friday, March 10, HC Wainwright lowered their “buy” rating and price objective on ALX Oncology shares from $65.00 to $30.00.
The note also referred to the company’s price objective.
The report’s subject matter was the shares of the company.
In a research note published on March 10 by Credit Suisse Group, the recommendation for ALX Oncology was changed from “outperform” to “neutral.” This was not the final instance in which the company suffered a downgrade.
According to the information that Bloomberg provided, there have been a total of six different equity research professionals who have recommended to investors that they should buy the stock.
The current recommendation on the stock, which has received widespread support, is “Buy,” and the price target, which has been compiled on average, is $29.83.
On Thursday, the stock of ALXO was introduced to the market for $5.19 per share.
Both the current and quick ratios come in at the same value of 9.57.
The debt-to-equity ratio has not changed from its previous value of 0.
The moving average for the company over the past 50 days is $8.14, and the moving average over the last 200 days is $10.24. Over the past year, the price of ALX Oncology has moved from its all-time low of $4.69 to its all-time high of $20.40.
The company’s price-to-earnings ratio is -1.71, and its beta value is 1.76.
The company currently has a market capitalization of $212.08 million.
Immuno-oncology is the primary focus of ALX Oncology Holdings INC This company is currently engaged in the clinical testing phase and is dedicated to creating medicines for cancer patients.
ALX148 is a CD47-blocking therapeutic currently being tested in Phase 1b/2 clinical trials.
These trials are being conducted in the United States.
It is currently employed in treating various disorders, such as myelodysplastic syndromes, acute myeloid leukemia, non-lymphoma, and Hodgkin’s disease.
In addition, it is employed in treating a variety of solid tumor indications, such as squamous cell carcinoma of the head and neck, carcinoma of the gastric/gastroesophageal junction, and cancer of the lung.