Shelly Pinto, the Interim CFO of ALX Oncology Holdings Inc. (NASDAQ:ALXO), recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Pinto sold 1,426 shares of common stock on December 30, 2024. The shares were sold at a weighted average price of $1.5802, resulting in a total transaction value of $2,253. This transaction comes as the company's stock has experienced a significant decline, falling nearly 89% over the past year, according to InvestingPro data.
The sale was executed to cover tax obligations related to the vesting of restricted stock units, as noted in the filing. Following this transaction, Pinto retains ownership of 90,123 shares in the company. The stock was sold in multiple transactions with prices ranging from $1.58 to $1.60 per share. Pinto has committed to providing detailed information on the number of shares sold at each price upon request. InvestingPro analysis indicates the company is currently undervalued, despite showing weak financial health scores and rapid cash burn. Subscribers can access 8 additional key insights about ALXO's financial position.
In other recent news, ALX Oncology has experienced notable developments. Jefferies recently downgraded ALX Oncology from 'Buy' to 'Hold', citing uncertainties in the company's 2025 readouts. This decision was influenced by the company's recent clinical trial outcomes, specifically the decline in efficacy observed in the later part of the Phase II gastric cancer study.
In contrast, Stifel maintained its 'Hold' rating on ALX Oncology shares following the release of positive results from a clinical trial involving ALX Oncology's evo and JAZZ Pharmaceuticals' zanidatamab. The trial demonstrated a high response rate in patients with HER2-positive metastatic breast cancer, prompting ALX Oncology to advance evo into the second-line treatment setting.
Meanwhile, ALX Oncology announced the resignation of its Chief Medical (TASE:PMCN) Officer, Sophia Randolph. The company has initiated the search for her replacement, and Dr. Randolph will continue to provide consulting services to ALX Oncology for up to 18 months.
Additionally, the company reported encouraging results from its Phase 2 ASPEN-06 clinical trial, which evaluated the efficacy of evorpacept in patients with HER2-positive advanced gastric or gastroesophageal junction cancer. The U.S. Food and Drug Administration subsequently granted Fast Track designation to evorpacept for the treatment of HER2-positive gastric or GEJ carcinoma. These are the recent events shaping ALX Oncology's trajectory.
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