Insider Selling: Allogene Therapeutics (NASDAQ:ALLO) CEO Sells $171,484.20 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David Chang sold 95,269 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total value of $171,484.20. Following the transaction, the chief executive officer owned 5,185,862 shares in the company, valued at approximately $9,334,551.60. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.69 on Friday. Allogene Therapeutics, Inc. has a one year low of $0.86 and a one year high of $3.78. The stock 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 issued 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 fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALLO. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a report on Friday, October 10th. Citizens Jmp upgraded 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. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. UBS Group started coverage on Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Citigroup upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

Institutional Investors Weigh In On Allogene Therapeutics

Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its stake in Allogene Therapeutics by 235.7% during the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock worth $841,000 after acquiring an additional 431,119 shares in the last quarter. R Squared Ltd increased its stake in Allogene Therapeutics by 40.5% during the fourth quarter. R Squared Ltd now owns 86,215 shares of the company’s stock worth $118,000 after purchasing an additional 24,842 shares during the period. Choreo LLC purchased a new stake in Allogene Therapeutics during the fourth quarter worth about $51,000. Aberdeen Group plc lifted its position in shares of Allogene Therapeutics by 31.9% during the fourth quarter. Aberdeen Group plc now owns 2,086,332 shares of the company’s stock worth $2,858,000 after purchasing an additional 504,067 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Allogene Therapeutics by 5,267.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.

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.