Insider Selling: Allogene Therapeutics (NASDAQ:ALLO) SVP Sells $13,059.77 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,549 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.73, for a total value of $13,059.77. Following the transaction, the senior vice president owned 210,172 shares of the company’s stock, valued at approximately $363,597.56. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Allogene Therapeutics Trading Up 3.7%

Shares of ALLO opened at $1.69 on Friday. Allogene Therapeutics, Inc. has a 12-month low of $0.86 and a 12-month high of $3.78. The company has a market cap of $379.79 million, a PE ratio of -1.72 and a beta of 0.60. The stock has a 50-day moving average price of $1.52 and a 200-day moving average price of $1.32.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP raised its holdings in Allogene Therapeutics by 235.7% in the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock worth $841,000 after purchasing an additional 431,119 shares in the last quarter. R Squared Ltd increased its position in shares of Allogene Therapeutics by 40.5% during the fourth quarter. R Squared Ltd now owns 86,215 shares of the company’s stock valued at $118,000 after buying an additional 24,842 shares during the period. Choreo LLC bought a new position in Allogene Therapeutics in the fourth quarter worth about $51,000. Aberdeen Group plc boosted its position in Allogene Therapeutics by 31.9% during the 4th quarter. Aberdeen Group plc now owns 2,086,332 shares of the company’s stock valued at $2,858,000 after acquiring an additional 504,067 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Allogene Therapeutics by 5,267.6% during 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. 83.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Friday, January 9th. Citigroup upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. UBS Group initiated coverage on shares of Allogene Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $8.40.

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.