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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David Chang sold 95,269 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total transaction of $171,484.20. Following the sale, the chief executive officer directly owned 5,185,862 shares in the company, valued at $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Allogene Therapeutics Trading Up 3.4%

Shares of ALLO traded up $0.06 during midday trading on Wednesday, reaching $1.80. The stock had a trading volume of 6,031,813 shares, compared to its average volume of 6,604,055. The firm has a market cap of $404.51 million, a PE ratio of -1.84 and a beta of 0.60. The firm has a 50 day simple moving average of $1.51 and a 200-day simple moving average of $1.32. Allogene Therapeutics, Inc. has a one year low of $0.86 and a one year high of $3.78.

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, research analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Allogene Therapeutics by 27.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after acquiring an additional 8,519 shares in the last quarter. Quadrature Capital Ltd raised its stake in Allogene Therapeutics by 29.6% in the 2nd quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock worth $50,000 after purchasing an additional 10,059 shares in the last quarter. Brighton Jones LLC boosted its holdings in Allogene Therapeutics by 81.6% in the 3rd 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 period. Zacks Investment Management boosted its holdings in Allogene Therapeutics by 2.7% in the 3rd 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 during the period. Finally, Vanguard Personalized Indexing Management LLC grew 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 in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.