ALX Oncology Holdings Inc. (NASDAQ:ALXO) has reported a recent transaction involving the company's Senior Vice President of Finance and Chief Accounting Officer, Shelly Pinto. According to the latest filings, Pinto sold a total of 1,373 shares of common stock on July 1, 2024.
The shares were sold at a weighted average price of $5.8188, with the transaction range being between $5.77 and $5.82 per share. The total value of the shares sold by Pinto amounted to approximately $7,989. The sale was conducted to satisfy tax obligations related to the vesting of restricted stock units.
Following the transaction, Pinto still owns 93,936 shares of ALX Oncology, which includes 1,718 shares acquired under the company's employee stock purchase plan on June 28, 2024. The company, based in South San Francisco, California, is known for its specialization in pharmaceutical preparations.
Investors and stakeholders can request detailed information regarding the exact number of shares sold at each price from the reporting person, as indicated in the footnotes of the filing.
ALX Oncology's stock transactions by executives are closely watched by the market as an indicator of the company's internal perspective and financial health.
In other recent news, ALX Oncology has announced several developments. The company's recent Annual Meeting saw the election of three Class I directors and the approval of executive compensation, as well as the ratification of KPMG LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024. In addition, ALX Oncology has been the focus of several analyst firms. UBS has maintained a 'Buy' rating for the company, while Stifel held its rating at 'Hold'.
The ASPEN-07 study by ALX Oncology has shown promising results, with a 20% increase in the Objective Response Rate. Piper Sandler has reaffirmed its Overweight rating on ALX Oncology following the review of the ASPEN-07 Phase 1a study data for evorpacept in combination with Padcev for the treatment of urothelial carcinoma. The study has demonstrated an objective response rate of 59%, suggesting a potential additional revenue stream for the company.
Lastly, ALX Oncology has announced the appointment of Allison Dillon, Ph.D., as its new Chief Business Officer. Dillon's extensive experience in oncology product development is expected to be instrumental as the company prepares for multiple clinical study outcomes within the next year. These are the recent developments in ALX Oncology.
InvestingPro Insights
As ALX Oncology Holdings Inc. (NASDAQ:ALXO) navigates the complexities of the pharmaceutical market, the company's financial health and stock performance remain critical for investors. With a market capitalization of $298.01 million, ALXO's recent share performance and balance sheet metrics provide a mixed picture for stakeholders.
One of the key InvestingPro Tips for ALXO highlights that the company holds more cash than debt on its balance sheet, which is a positive sign for liquidity and financial stability. This is particularly relevant considering the stock's performance over the last month, with a decline of 37.5%, and a significant drop of 61.06% over the last six months. The company's ability to manage its cash reserves against its debt obligations could be a comforting factor for investors amid the stock's recent volatility.
Additionally, the company's Price / Book ratio as of the last twelve months ending Q1 2024 stands at 1.78, which may be of interest to value-oriented investors assessing the company's market valuation relative to its book value. Moreover, the company's RSI (Relative Strength Index) suggests that the stock is currently in oversold territory, which could potentially indicate a buying opportunity for contrarian investors or those looking for short-term rebounds.
However, it is worth noting that ALX Oncology is not expected to be profitable this year, and analysts are keeping a close eye on its gross profit margins and cash burn rate. For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available at InvestingPro. For instance, while the company's liquid assets exceed its short-term obligations, providing some financial cushion, it has not been profitable over the last twelve months, which may raise concerns about its long-term growth trajectory.
To gain deeper insights and access to a total of 11 InvestingPro Tips for ALX Oncology, interested readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. These tips can provide valuable context and help investors make informed decisions about ALXO's stock.
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