Allogene Therapeutics (NASDAQ:ALLO) CFO Geoffrey Parker Sells 36,342 Shares of Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CFO Geoffrey Parker sold 36,342 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $1.34, for a total value of $48,698.28. Following the completion of the transaction, the chief financial officer owned 1,045,877 shares of the company’s stock, valued at $1,401,475.18. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Price Performance

ALLO remained flat at $1.25 during trading on Friday. 8,403,258 shares of the company traded hands, compared to its average volume of 7,597,198. The stock has a market capitalization of $431.86 million, a P/E ratio of -1.87 and a beta of 0.56. Allogene Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $4.46. The stock has a 50 day moving average of $1.72 and a 200-day moving average of $1.96.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $4.64 million for the quarter, compared to the consensus estimate of $0.00 million. Equities research analysts predict that Allogene Therapeutics, Inc. will post -0.58 earnings per share for the current year.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in ALLO. BlackRock Inc. bought a new position in Allogene Therapeutics during the second quarter worth $62,706,000. Frazier Life Sciences Management L.P. lifted its stake in shares of Allogene Therapeutics by 491.2% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock worth $46,689,000 after buying an additional 18,650,000 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Allogene Therapeutics during the 2nd quarter worth about $27,297,000. Walleye Capital LLC bought a new stake in shares of Allogene Therapeutics during the 2nd quarter worth about $6,797,000. Finally, Bank of America Corp DE acquired a new position in Allogene Therapeutics in the 2nd quarter valued at about $6,630,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALLO. Citizens Jmp restated a “market outperform” rating and issued a $6.00 price objective on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings upgraded Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, William Blair raised Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company’s investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.