Allogene Therapeutics (NASDAQ:ALLO) SVP Sells $62,957.64 in Stock

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

Allogene Therapeutics Stock Up 2.5%

ALLO opened at $2.09 on Friday. Allogene Therapeutics, Inc. has a 52 week low of $1.04 and a 52 week high of $4.46. The stock has a market cap of $722.07 million, a PE ratio of -3.12 and a beta of 0.48. The business has a 50 day moving average of $1.99 and a 200-day moving average of $2.15.

Allogene Therapeutics (NASDAQ:ALLO) last issued 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 firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. Equities analysts anticipate that Allogene Therapeutics, Inc. will post -0.59 EPS for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ALLO. Hennion & Walsh Asset Management Inc. purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at about $1,504,000. Walleye Capital LLC purchased a new position in Allogene Therapeutics in the second quarter worth about $6,797,000. Candriam S.C.A. raised its holdings in Allogene Therapeutics by 30.0% in the first quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock worth $7,313,000 after buying an additional 691,674 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Allogene Therapeutics in the second quarter worth approximately $1,207,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Allogene Therapeutics by 25.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,201,655 shares of the company’s stock worth $2,927,000 after buying an additional 243,839 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

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.