In a recent transaction, Jaume Pons, the President and Chief Scientific Officer (CSO) of ALX Oncology Holdings Inc. (NASDAQ:ALXO), sold 20,000 shares of the company’s common stock, resulting in a total transaction value exceeding $223,000. The sale took place on April 4, 2024, and was executed under a pre-arranged trading plan.
The shares were sold at a weighted average price of $11.1518 per share, with individual transactions occurring at prices ranging from $10.86 to $11.275. Following the sale, Pons retains ownership of 628,359 shares in the company, indicating a continued vested interest in the pharmaceutical company's future.
The transaction aligns with a Rule 10b5-1 trading plan, which Pons adopted on December 6, 2023. These plans allow company insiders to establish pre-arranged plans to buy or sell company stock automatically at a future date, under preset conditions, to avoid any accusations of insider trading.
ALX Oncology Holdings Inc., based in South San Francisco, California, operates in the pharmaceutical preparations industry and is incorporated in Delaware. The company is focused on developing therapies for cancer treatment and is watched closely by investors for progress in its pipeline and strategic management moves.
The sale was publicly filed with the Securities and Exchange Commission, with Peter Garcia signing the document by power of attorney on April 5, 2024. The company and Jaume Pons have offered to provide full information regarding the sale, including the number of shares sold at each price, upon request from the issuer, any security holder, or the SEC staff.
InvestingPro Insights
Following the recent sale of shares by Jaume Pons, ALX Oncology Holdings Inc. (NASDAQ:ALXO) has been in the spotlight. The company, which specializes in developing cancer treatments, has a market capitalization of $613.36M, highlighting its moderate size within the pharmaceutical preparations industry. Despite this, the company's stock price has experienced significant volatility, with a notable 9.69% return over the last week, contrasting with a 17.2% decrease over the past month.
One of the InvestingPro Tips for ALX Oncology is its solid liquidity position, as it holds more cash than debt on its balance sheet, which could be reassuring for investors considering the company's financial stability. However, it's important to note that analysts do not expect ALX Oncology to be profitable this year, which is reflected in its negative P/E ratio of -3.14. The company's P/E ratio has further adjusted to -3.81 when considering the last twelve months as of Q4 2023.
In addition, ALX Oncology has shown a high return over the last year with a 179.22% price total return, suggesting that while the stock has fared poorly over the last month, its longer-term performance has been strong. For those interested in the company's future earnings potential, the next earnings date is set for May 8, 2024.
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