Allogene Therapeutics (NASDAQ:ALLO) CEO David Chang Sells 47,763 Shares of Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David Chang sold 47,763 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $2.47, for a total transaction of $117,974.61. Following the transaction, the chief executive officer owned 5,150,599 shares in the company, valued at $12,721,979.53. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Allogene Therapeutics Price Performance

Shares of ALLO traded down $0.03 during trading hours on Thursday, hitting $2.13. The stock had a trading volume of 115,086 shares, compared to its average volume of 5,579,349. Allogene Therapeutics, Inc. has a 1-year low of $0.86 and a 1-year high of $2.80. The firm has a market capitalization of $518.03 million, a P/E ratio of -2.43 and a beta of 0.50. The firm has a 50 day simple moving average of $1.99 and a 200-day simple moving average of $1.53.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. Equities analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Savant Capital LLC bought a new position in Allogene Therapeutics during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. raised its holdings in shares of Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at about $30,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Analysts Set New Price Targets

ALLO has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 13th. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. 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 note on Friday, January 9th. Finally, Piper Sandler lifted their price objective on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.56.

Allogene Therapeutics Company Profile

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.