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 company’s stock in a transaction 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 transaction, the chief financial officer directly owned 1,045,877 shares in the company, valued at $1,401,475.18. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Stock Performance

ALLO stock opened at $1.25 on Friday. The company has a market capitalization of $431.86 million, a price-to-earnings ratio of -1.87 and a beta of 0.56. Allogene Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.46. The stock has a fifty day moving average of $1.70 and a 200-day moving average of $1.96.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data 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 firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. Equities analysts predict that Allogene Therapeutics, Inc. will post -0.58 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Allogene Therapeutics during the second quarter valued at about $62,706,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of Allogene Therapeutics by 491.2% in the second 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 in the last quarter. Primecap Management Co. CA bought a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $27,297,000. Walleye Capital LLC bought a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $6,797,000. Finally, Bank of America Corp DE bought a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $6,630,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

About Allogene Therapeutics

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.