Shelly Pinto, Interim CFO of ALX Oncology Holdings Inc. (NASDAQ:ALXO), recently sold part of its stake 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 at a time when the company’s stock has seen a significant decline, falling almost 89% over the past year, according to InvestingPro data.
The sale was made to cover tax liabilities associated with the acquisition of the restricted stock units, as stated in the filing. After this transaction, Pinto retains ownership of 90,123 shares of the company. Shares were sold in multiple transactions with prices ranging from $1.58 to $1.60 per share. Pinto undertook to provide detailed information on the number of shares sold at each price upon request. InvestingPro analysis shows that the company is currently undervalued, despite weak financial results and rapid spending of money. Subscribers can access 8 additional key insights into ALXO’s financial position.
In other recent news, ALX Oncology has seen significant progress. Jefferies recently downgraded ALX Oncology from ‘Buy’ to ‘Hold’, citing uncertainties in the company’s 2025 guidance. This decision was influenced by the company’s recent clinical trial results, particularly the decline in efficacy seen in the later part of a phase II gastric cancer study.
In contrast, Stifel maintained its ‘Hold’ rating on ALX Oncology shares following the announcement of positive results from a clinical trial involving ALX Oncology’s evo and JAZZ Pharmaceuticals’ zanidatamab. The trial showed 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 boss Medical (TASE:) Officer, Sophia Randolph. The company launched a search for her replacement, and dr. Randolph will continue to provide consulting services to ALX Oncology for up to 18 months.
In addition, the company reported encouraging results from its phase 2 ASPEN-06 clinical study, which evaluated the efficacy of evorpacept in patients with HER2-positive advanced gastric or gastroesophageal junction cancer. The US Food and Drug Administration subsequently granted Fast Track designation to evorpacept for the treatment of HER2-positive gastric or GEJ cancer. These are the recent developments that are shaping the trajectory of ALX Oncology.
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