Insider Selling: Allogene Therapeutics (NASDAQ:ALLO) SVP Sells $40,304.00 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Earl Martin Douglas sold 22,900 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total value of $40,304.00. Following the transaction, the senior vice president owned 564,948 shares in the company, valued at approximately $994,308.48. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Allogene Therapeutics Stock Performance

Shares of ALLO stock opened at $1.69 on Friday. The company has a market capitalization of $379.79 million, a P/E ratio of -1.72 and a beta of 0.60. Allogene Therapeutics, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The stock has a 50 day moving average price of $1.52 and a two-hundred 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, topping the consensus estimate of ($0.23) by $0.04. As a group, equities analysts predict that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in shares of Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. Millennium Management LLC lifted its position in Allogene Therapeutics by 125.6% during the third quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after buying an additional 1,887,302 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Allogene Therapeutics by 109.7% during the 3rd quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after buying an additional 1,770,419 shares in the last quarter. UBS Group AG boosted its holdings in shares of Allogene Therapeutics by 75.1% during the 3rd quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock valued at $4,428,000 after buying an additional 1,532,238 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in shares of Allogene Therapeutics by 23.8% in the 3rd quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after buying an additional 1,360,168 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

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.