Allogene Therapeutics (NASDAQ:ALLO) SVP Earl Martin Douglas Sells 29,697 Shares

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Earl Martin Douglas sold 29,697 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the sale, the senior vice president owned 488,267 shares in the company, valued at $1,035,126.04. The trade was a 5.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $2.17 on Wednesday. The company has a market capitalization of $749.71 million, a PE ratio of -3.24 and a beta of 0.48. The company has a fifty day moving average of $1.99 and a 200 day moving average of $2.14. Allogene Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $0.00 million. Research analysts expect that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALLO shares. Citizens Jmp reiterated a “market outperform” rating and set a $6.00 price target on shares of Allogene Therapeutics in a research report on Monday, August 17th. Weiss Ratings lowered Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Allogene Therapeutics during the 1st quarter valued at about $85,000. Goldman Sachs Group Inc. boosted its position in Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. Jane Street Group LLC boosted its position in Allogene Therapeutics by 578.7% during the first quarter. Jane Street Group LLC now owns 1,116,681 shares of the company’s stock worth $1,630,000 after purchasing an additional 952,158 shares in the last quarter. Geode Capital Management LLC grew its holdings in Allogene Therapeutics by 13.0% in the second quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company’s stock valued at $4,289,000 after purchasing an additional 435,389 shares during the period. Finally, Rhumbline Advisers grew its holdings in Allogene Therapeutics by 14.0% in the second quarter. Rhumbline Advisers now owns 209,336 shares of the company’s stock valued at $237,000 after purchasing an additional 25,628 shares during the period. Institutional investors and hedge funds 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.