Allogene Therapeutics (NASDAQ:ALLO) EVP Zachary Roberts Sells 26,269 Shares

Allogene Therapeutics, Inc. (NASDAQ:ALLO) EVP Zachary Roberts sold 26,269 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $1.56, for a total value of $40,979.64. Following the transaction, the executive vice president directly owned 616,866 shares of the company’s stock, valued at $962,310.96. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock opened at $1.72 on Friday. The firm has a market cap of $386.54 million, a PE ratio of -1.76 and a beta of 0.51. The business’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $1.30. Allogene Therapeutics, Inc. has a 52-week low of $0.86 and a 52-week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. As a group, equities research analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

ALLO has been the topic of several analyst reports. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Allogene Therapeutics in a report on Wednesday, October 8th. UBS Group initiated coverage on Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price on the stock. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Allogene Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $8.40.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Allogene Therapeutics by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock worth $11,186,000 after purchasing an additional 761,642 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Allogene Therapeutics by 23.8% during the third quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after purchasing an additional 1,360,168 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allogene Therapeutics by 13.0% in the second quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company’s stock valued at $4,289,000 after buying an additional 435,389 shares during the period. Finally, UBS Group AG boosted its stake in shares of Allogene Therapeutics by 75.1% in the third quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock valued at $4,428,000 after buying an additional 1,532,238 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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.