Benjamin Machinas Beneski Sells 4,835 Shares of Allogene Therapeutics (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 4,835 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $2.47, for a total transaction of $11,942.45. Following the completion of the sale, the senior vice president owned 198,205 shares in the company, valued at $489,566.35. This represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Benjamin Machinas Beneski also recently made the following trade(s):

• On Monday, March 2nd, Benjamin Machinas Beneski sold 7,132 shares of Allogene Therapeutics stock. The stock was sold at an average price of $2.60, for a total value of $18,543.20.
• 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 value of $13,059.77.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $2.22 on Friday. The stock has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.54. The company has a market capitalization of $541.19 million, a price-to-earnings ratio of -2.55 and a beta of 0.50. Allogene Therapeutics, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $2.80.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. On average, analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 13th. Piper Sandler upped their price objective on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Friday, January 9th. UBS Group began coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.56.

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.