Insider Selling: Allogene Therapeutics (NASDAQ:ALLO) SVP Sells 7,132 Shares of Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,132 shares of the stock in a transaction on Monday, March 2nd. The shares were 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 in the company, valued at $527,904. This trade represents a 3.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $1.73, for a total transaction of $13,059.77.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock remained flat at $2.53 during trading on Wednesday. The stock had a trading volume of 2,689,483 shares, compared to its average volume of 5,934,221. The company has a fifty day moving average price of $1.76 and a 200-day moving average price of $1.44. Allogene Therapeutics, Inc. has a 52-week low of $0.86 and a 52-week high of $2.80. The stock has a market capitalization of $568.57 million, a P/E ratio of -2.58 and a beta of 0.50.

Institutional Trading of Allogene Therapeutics

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Allogene Therapeutics by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock worth $11,186,000 after purchasing an additional 761,642 shares during the last quarter. Primecap Management Co. CA increased its stake in Allogene Therapeutics by 15.0% during the 4th quarter. Primecap Management Co. CA now owns 8,139,840 shares of the company’s stock worth $11,152,000 after buying an additional 1,060,532 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after acquiring an additional 3,747,397 shares in the last quarter. Patient Square Capital LP boosted its stake in shares of Allogene Therapeutics by 66.5% in the fourth quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock worth $6,800,000 after acquiring an additional 1,982,360 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Allogene Therapeutics by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,932,910 shares of the company’s stock worth $5,389,000 after purchasing an additional 99,025 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price objective on the stock. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. 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 research report on Friday, January 9th. Finally, Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.