Earl Martin Douglas Sells 29,697 Shares of Allogene Therapeutics (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Earl Martin Douglas sold 29,697 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the transaction, the senior vice president directly owned 488,267 shares in the company, valued at approximately $1,035,126.04. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $2.04 on Thursday. Allogene Therapeutics, Inc. has a one year low of $1.04 and a one year high of $4.46. The company has a market cap of $704.80 million, a PE ratio of -3.04 and a beta of 0.48. The stock has a 50-day moving average of $1.99 and a 200-day moving average of $2.14.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $4.64 million for the quarter, compared to analyst estimates of $0.00 million. Analysts expect that Allogene Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALLO shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $6.00 target price on shares of Allogene Therapeutics in a research report on Monday, August 17th. Weiss Ratings lowered shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.30.

Institutional Trading of Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC purchased a new stake in shares of Allogene Therapeutics in the first quarter worth approximately $27,000. Pallas Capital Advisors LLC bought a new stake in Allogene Therapeutics during the second quarter worth $25,000. Bull Harbor Capital LLC purchased a new stake in Allogene Therapeutics in the 1st quarter valued at $31,000. GTS Securities LLC bought a new position in Allogene Therapeutics during the 2nd quarter valued at $27,000. Finally, Krilogy Financial LLC purchased a new position in Allogene Therapeutics during the 1st quarter worth $40,000. 83.63% of the stock is owned by institutional investors.

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.