Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO Sells $91,469.28 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at $10,342,075.24. This represents a 0.88 % 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 link.

Allogene Therapeutics Stock Down 3.6 %

Shares of ALLO opened at $1.63 on Friday. The firm has a 50-day moving average price of $1.89 and a 200 day moving average price of $2.29. The firm has a market capitalization of $354.14 million, a PE ratio of -1.04 and a beta of 1.02. Allogene Therapeutics, Inc. has a 52-week low of $1.32 and a 52-week high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. On average, equities analysts expect that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ALLO. abrdn plc acquired a new stake in Allogene Therapeutics in the 4th quarter valued at about $776,000. Barclays PLC lifted its holdings in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after acquiring an additional 172,745 shares during the last quarter. Zacks Investment Management acquired a new stake in Allogene Therapeutics in the 3rd quarter valued at about $1,446,000. Geode Capital Management LLC lifted its holdings in Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after acquiring an additional 407,070 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in Allogene Therapeutics by 788.4% in the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after acquiring an additional 173,457 shares during the last quarter. Institutional investors own 83.63% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ALLO shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. HC Wainwright dropped their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.29.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).