Bank of America just raised its EUR/USD forecast
In a recent transaction, Jaume Pons, the President and Chief Scientific Officer of ALX Oncology Holdings Inc. (NASDAQ:ALXO), sold 1,326 shares of the company’s common stock. The shares were sold on February 19, 2025, at a weighted average price of approximately $1.15 per share, resulting in a total transaction value of $1,525. This transaction comes as ALXO’s stock has declined nearly 93% over the past year, with the company’s market capitalization now standing at approximately $58.5 million.
According to the filing, the sale was conducted to fulfill tax obligations related to the vesting of restricted stock units. Following this transaction, Pons holds 579,388 shares directly in ALX Oncology. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 4.82, though it faces near-term challenges with its financial health rated as WEAK.
The shares were sold in multiple transactions at prices ranging from $1.15 to $1.16. Pons has committed to providing detailed information about the individual transactions upon request. Investors should note that ALX Oncology is scheduled to report its next earnings on March 6, 2025. For comprehensive insider trading patterns and detailed financial analysis, consider accessing InvestingPro, which offers 10+ additional investment insights about ALXO.
In other recent news, ALX Oncology has released positive outcomes from its ASPEN-06 Phase 2 clinical trial, demonstrating significant tumor response in patients with HER2-positive advanced gastric cancer. The trial, which evaluated the investigational drug evorpacept in combination with other therapies, showed an overall response rate of 41.3% compared to historical control groups. Notably, patients with confirmed HER2-positive cancer experienced an even higher response rate of 48.9%, with a median duration of response of 15.7 months. The U.S. Food and Drug Administration has granted Fast Track designation for evorpacept, highlighting the need for new treatments in this area.
Further developments include UBS revising ALX Oncology’s price target to $2.20, down from $4.00, while maintaining a Buy rating. This adjustment follows the presentation of updated analysis from the ASPEN-06 study at the ASCO-GI conference. Meanwhile, Stifel analysts have maintained a Hold rating with a $3.00 price target, noting the potential benefits of evorpacept as a combination drug. Cantor Fitzgerald also reaffirmed its Overweight rating, emphasizing the positive Phase 2 ASPEN-6 study results.
H.C. Wainwright has adjusted its price target to $5 from $25, maintaining a Buy rating despite the change. The firm cited the competitive landscape in cancer therapies as a factor influencing their revised expectations. These developments reflect ongoing interest and analysis from various firms regarding ALX Oncology’s potential in advancing cancer treatment options.
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