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

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

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO traded down $0.12 during mid-day trading on Wednesday, hitting $2.15. The stock had a trading volume of 5,509,619 shares, compared to its average volume of 5,686,003. The business has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $1.53. Allogene Therapeutics, Inc. has a 1 year low of $0.86 and a 1 year high of $2.80. The firm has a market cap of $524.12 million, a P/E ratio of -2.47 and a beta of 0.50.

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

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Allogene Therapeutics by 84.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 44,334 shares of the company’s stock worth $61,000 after buying an additional 20,287 shares during the period. Virtu Financial LLC grew its holdings in Allogene Therapeutics by 55.9% in the fourth quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock worth $58,000 after purchasing an additional 15,178 shares during the period. Invesco Ltd. increased its stake in shares of Allogene Therapeutics by 16.1% during the fourth quarter. Invesco Ltd. now owns 609,807 shares of the company’s stock valued at $835,000 after purchasing an additional 84,494 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Allogene Therapeutics by 23.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock valued at $40,000 after purchasing an additional 5,514 shares during the last quarter. Finally, Virtus Investment Advisers LLC boosted its position in shares of Allogene Therapeutics by 116.8% in the 4th quarter. Virtus Investment Advisers LLC now owns 176,178 shares of the company’s stock worth $241,000 after purchasing an additional 94,902 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALLO shares. Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. UBS Group assumed coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 13th. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, January 9th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.