Benjamin Machinas Beneski Sells 7,549 Shares of Allogene Therapeutics (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,549 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.73, for a total transaction of $13,059.77. Following the sale, the senior vice president owned 210,172 shares of the company’s stock, valued at approximately $363,597.56. This represents a 3.47% 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 NASDAQ:ALLO opened at $1.63 on Friday. The business’s 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.32. The company has a market cap of $366.31 million, a P/E ratio of -1.66 and a beta of 0.60. Allogene Therapeutics, Inc. has a one year low of $0.86 and a one year high of $3.78.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ALLO. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 28th. UBS Group assumed coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target for the company. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Allogene Therapeutics in a research note 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.40.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Savant Capital LLC bought a new stake in shares of Allogene Therapeutics during the 3rd quarter worth about $27,000. Russell Investments Group Ltd. increased its stake in shares of Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after acquiring an additional 21,650 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after acquiring an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Allogene Therapeutics during the third quarter worth approximately $30,000. Finally, Brighton Jones LLC lifted its position in Allogene Therapeutics by 81.6% in the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares during the period. Institutional investors own 83.63% of the company’s stock.

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.