ALX Oncology Holdings Inc. (NASDAQ:ALXO) has reported a significant transaction involving its President and Chief Scientific Officer (CSO), Jaume Pons. According to the latest filings, Pons sold 20,000 shares of the company's common stock, fetching a total of over $318,000.
The shares were sold on May 6, 2024, at a weighted average price ranging from $15.55 to $16.3942 per share. The transaction was carried out under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which Pons had adopted on December 6, 2023. This plan allows company insiders to sell shares over a predetermined period to avoid accusations of trading on non-public information.
Following the sale, Pons still holds a substantial amount of ALX Oncology stock, with 604,205 shares remaining in his possession. On the same day as the sale, Pons also exercised options to acquire another 20,000 shares of common stock at a price of $0.99 per share, adding to his holdings before the sale.
The transactions indicate active financial management by the executive, balancing acquisitions and disposals of stock in the company. Investors often keep an eye on insider transactions as they can provide insights into the executives' perspectives on the company's future performance.
ALX Oncology, based in South San Francisco, California, is a pharmaceutical company focused on developing therapies for cancer treatment. The company's stock performance and insider transactions are closely watched by investors seeking to understand the market's direction and the confidence level of company executives.
For further details on the transactions, including the exact number of shares sold at each price point, Pons has committed to providing full information to the issuer, security holders, or the SEC staff upon request.
InvestingPro Insights
Amid the news of insider transactions by ALX Oncology Holdings Inc.'s (NASDAQ:ALXO) President and Chief Scientific Officer, investors might find it useful to consider the company's financial health and market performance. ALX Oncology's stock has shown remarkable resilience with a 1 Year Price Total Return of 186.46%, indicating a strong return over the past year, which aligns with one of the InvestingPro Tips highlighting the company's high return over the same period.
While the company's stock price is trading near its 52-week high, at 93.26% of the peak, this could be reflective of investor confidence and the recent positive price momentum. Additionally, the Market Cap stands at 838.79M USD, which may be of interest to those looking to gauge the company's size and market value.
However, potential investors should be aware of the company's financial challenges. The P/E Ratio, both current and adjusted for the last twelve months as of Q4 2023, stands at -4.36 and -5.22 respectively, indicating that the company is not currently profitable. This is further supported by an InvestingPro Tip suggesting that analysts do not expect ALX Oncology to be profitable this year.
For those interested in a deeper dive into ALX Oncology's performance and future outlook, there are additional InvestingPro Tips available. By visiting https://www.investing.com/pro/ALXO, readers can access a comprehensive list of 13 tips, providing a more nuanced understanding of the company's financial situation. To enhance their investment research, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to InvestingPro.
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