EUR/USD likely to find a peak near 1.25: UBS
Jason Lettmann, the Chief Executive Officer of ALX Oncology Holdings Inc. (NASDAQ:ALXO), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock has experienced significant pressure, declining over 92% in the past year to its current price of $1.12, according to InvestingPro data. On February 19, Lettmann sold 2,159 shares of common stock, with transactions executed at prices ranging from $1.15 to $1.16 per share. This sale was primarily conducted to cover the tax liabilities associated with the vesting of restricted stock units. Despite the challenging stock performance, InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.82 and holds more cash than debt on its balance sheet.
Following the transaction, Lettmann holds 170,270 shares in the company. This total includes 3,000 shares acquired through ALX Oncology’s employee stock purchase plan at the end of 2024. The sale amounted to a total value of $2,483. For deeper insights into ALXO’s valuation and 10+ additional ProTips, check out InvestingPro.
In other recent news, ALX Oncology presented promising results from its ASPEN-06 Phase 2 clinical trial at the ASCO Gastrointestinal Cancers Symposium, highlighting the efficacy of evorpacept in treating HER2-positive advanced gastric cancer. The study showed a 41.3% overall response rate (ORR) in the intent-to-treat population, with a notable 48.9% ORR among patients with confirmed HER2-positive cancer. Despite these positive outcomes, UBS analyst Colin Bristow revised the company’s price target to $2.20 from $4.00, while maintaining a Buy rating, citing the need for further investigation in larger phase 3 studies.
H.C. Wainwright also adjusted its price target for ALX Oncology to $5 from $25, continuing to recommend a Buy rating. The firm noted a strong ORR in patients treated with the Evo/TRP combination but revised its peak penetration rate estimate for head and neck cancer due to market competition. Meanwhile, Stifel maintained a Hold rating with a $3 target, acknowledging the potential benefits of evorpacept in combination therapies and expressing cautious optimism about the company’s future plans.
Cantor Fitzgerald reaffirmed its Overweight rating, emphasizing the positive Phase 2 ASPEN-6 study results and the potential for evorpacept to enhance cancer treatment. The U.S. Food and Drug Administration has granted Fast Track designation for evorpacept for second-line treatment of HER2-positive gastric or gastroesophageal junction carcinoma, highlighting the urgent need for new therapeutic options. ALX Oncology remains committed to advancing evorpacept, as evidenced by its recent data presentation and ongoing strategic discussions.
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