Benjamin Machinas Beneski Sells 7,132 Shares of Allogene Therapeutics (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,132 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $2.60, for a total value of $18,543.20. Following the sale, the senior vice president directly owned 203,040 shares of the company’s stock, valued at $527,904. The trade was a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Benjamin Machinas Beneski also recently made the following trade(s):

• On Monday, February 2nd, Benjamin Machinas Beneski sold 7,549 shares of Allogene Therapeutics stock. The stock was sold at an average price of $1.73, for a total transaction of $13,059.77.

Allogene Therapeutics Trading Down 8.7%

NASDAQ:ALLO opened at $2.31 on Friday. The firm has a market capitalization of $519.13 million, a PE ratio of -2.36 and a beta of 0.50. Allogene Therapeutics, Inc. has a 1 year low of $0.86 and a 1 year high of $2.80. The firm’s fifty day simple moving average is $1.80 and its 200 day simple moving average is $1.45.

Institutional Trading of Allogene Therapeutics

Several institutional investors have recently modified their holdings of ALLO. Savant Capital LLC acquired a new position in shares of Allogene Therapeutics in the third quarter valued at $27,000. Russell Investments Group Ltd. raised its stake in shares of Allogene Therapeutics by 11,159.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after buying an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted 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. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Allogene Therapeutics during the 3rd quarter valued at about $30,000. Finally, Brighton Jones LLC increased its stake in Allogene Therapeutics by 81.6% in the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after acquiring an additional 11,311 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALLO shares. Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. UBS Group assumed coverage on Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target for the company. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, Citizens Jmp upgraded 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 note on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.40.

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.