Allogene Therapeutics (NASDAQ:ALLO) CEO David Chang Sells 95,269 Shares

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David Chang sold 95,269 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.80, for a total value of $171,484.20. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO traded up $0.06 on Wednesday, hitting $1.80. 6,031,813 shares of the stock were exchanged, compared to its average volume of 6,604,055. The stock has a market capitalization of $404.51 million, a price-to-earnings ratio of -1.84 and a beta of 0.60. Allogene Therapeutics, Inc. has a 52 week low of $0.86 and a 52 week high of $3.78. The company’s 50-day moving average price is $1.51 and its 200 day moving average price is $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, equities research analysts predict that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALLO. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a report on Friday, October 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, January 9th. Finally, UBS Group began coverage on shares of Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.40.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its stake in Allogene Therapeutics by 27.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after buying an additional 8,519 shares during the last quarter. Quadrature Capital Ltd boosted its position in Allogene Therapeutics by 29.6% during the second quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock valued at $50,000 after purchasing an additional 10,059 shares during the last quarter. Brighton Jones LLC boosted its position in Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares during the last quarter. Zacks Investment Management grew its stake in Allogene Therapeutics by 2.7% in the third quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock valued at $652,000 after purchasing an additional 13,831 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Allogene Therapeutics by 19.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 85,720 shares of the company’s stock worth $106,000 after purchasing an additional 14,032 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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.