Insider Selling: ALX Oncology (NASDAQ:ALXO) CEO Sells 12,311 Shares of Stock

Key Points

• CEO Jason Lettmann sold 12,311 shares on March 19 at an average price of $2.17 for $26,714.87, trimming his position by 4.02% to 293,609 shares valued at about $637,131.
• ALX Oncology shares traded at $2.20 (up 0.9%) with 913,526 shares changing hands versus an average volume of 670,428; the company has a market cap of $289.5 million, a 52-week range of $0.40–$2.66, and negative earnings (PE -1.16).
• Analysts show mixed but generally positive sentiment with an average rating of “Moderate Buy” (five Buys, one Sell) and an average price target of $4.60, while institutional investors own roughly 97.97% of the stock.

ALX Oncology Holdings Inc. (NASDAQ:ALXO - Get Free Report) CEO Jason Lettmann sold 12,311 shares of the company's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $2.17, for a total transaction of $26,714.87. Following the sale, the chief executive officer directly owned 293,609 shares in the company, valued at $637,131.53. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ALX Oncology Trading Up 0.9%

ALX Oncology stock traded up $0.02 during trading hours on Monday, reaching $2.20. 913,526 shares of the company's stock were exchanged, compared to its average volume of 670,428. The firm's 50 day simple moving average is $1.96 and its 200 day simple moving average is $1.63. ALX Oncology Holdings Inc. has a twelve month low of $0.40 and a twelve month high of $2.66. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $289.54 million, a PE ratio of -1.16 and a beta of 0.46.

ALX Oncology (NASDAQ:ALXO - Get Free Report) last announced its earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter. Research analysts predict that ALX Oncology Holdings Inc. will post -2.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALXO has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $4.00 price objective on shares of ALX Oncology in a research report on Tuesday, March 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of ALX Oncology in a research note on Wednesday, January 21st. Wells Fargo & Company assumed coverage on shares of ALX Oncology in a report on Thursday. They issued an "overweight" rating and a $5.00 price target for the company. UBS Group assumed coverage on shares of ALX Oncology in a research note on Friday, March 6th. They issued a "buy" rating and a $6.00 price target for the company. Finally, Wall Street Zen upgraded shares of ALX Oncology from a "sell" rating to a "hold" rating in a report on Monday, December 22nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ALX Oncology presently has an average rating of "Moderate Buy" and an average price target of $4.60.

Hedge Funds Weigh In On ALX Oncology

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. acquired a new stake in ALX Oncology in the 3rd quarter valued at $1,195,000. Two Sigma Investments LP raised its holdings in ALX Oncology by 26.9% during the third quarter. Two Sigma Investments LP now owns 606,671 shares of the company's stock worth $1,110,000 after buying an additional 128,737 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of ALX Oncology by 16.8% in the first quarter. Acadian Asset Management LLC now owns 1,296,331 shares of the company's stock valued at $806,000 after buying an additional 186,883 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of ALX Oncology by 157.2% in the fourth quarter. Renaissance Technologies LLC now owns 423,099 shares of the company's stock valued at $478,000 after buying an additional 258,600 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of ALX Oncology by 11.0% during the fourth quarter. State Street Corp now owns 124,228 shares of the company's stock valued at $140,000 after buying an additional 12,300 shares during the last quarter. 97.97% of the stock is currently owned by institutional investors.

ALX Oncology Company Profile

ALX Oncology, Inc is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, focused on developing next-generation immuno-oncology therapies. The company's mission is to harness and amplify both innate and adaptive immune responses to improve outcomes for patients with a range of solid tumors and hematologic malignancies.

The lead candidate in ALX Oncology's pipeline is evorpacept (ALX148), a high-affinity CD47-blocking Fc-silenced fusion protein designed to enhance macrophage-mediated phagocytosis of cancer cells when combined with standard therapeutic antibodies or immune checkpoint inhibitors.

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