Allogene Therapeutics (NASDAQ:ALLO) SVP Benjamin Machinas Beneski Sells 7,132 Shares

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,132 shares of Allogene Therapeutics stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $2.60, for a total value of $18,543.20. Following the sale, the senior vice president owned 203,040 shares in the company, valued at $527,904. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Benjamin Machinas Beneski also recently made the following trade(s):

• On Monday, February 2nd, Benjamin Machinas Beneski sold 7,549 shares of Allogene Therapeutics stock. The stock was sold at an average price of $1.73, for a total value of $13,059.77.

Allogene Therapeutics Stock Down 8.3%

ALLO traded down $0.21 during trading on Thursday, hitting $2.32. 2,888,999 shares of the stock were exchanged, compared to its average volume of 5,852,930. Allogene Therapeutics, Inc. has a 1-year low of $0.86 and a 1-year high of $2.80. The stock has a fifty day moving average price of $1.78 and a two-hundred day moving average price of $1.44. The firm has a market capitalization of $521.37 million, a P/E ratio of -2.37 and a beta of 0.50.

Wall Street Analysts Forecast Growth

ALLO has been the topic of several research reports. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Friday, January 9th. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. Finally, UBS Group started coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently made changes to their positions in ALLO. Savant Capital LLC purchased a new stake in Allogene Therapeutics during the third quarter worth about $27,000. Russell Investments Group Ltd. boosted its stake in shares of Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after acquiring an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after acquiring an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Allogene Therapeutics in the 3rd quarter valued at approximately $30,000. Finally, Brighton Jones LLC raised its holdings in Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.