Insider Selling: Allogene Therapeutics (NASDAQ:ALLO) EVP Sells $40,979.64 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) EVP Zachary Roberts sold 26,269 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $1.56, for a total transaction of $40,979.64. Following the transaction, the executive vice president owned 616,866 shares in the company, valued at $962,310.96. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.72 on Monday. The stock has a market capitalization of $386.54 million, a PE ratio of -1.76 and a beta of 0.51. Allogene Therapeutics, Inc. has a 1 year low of $0.86 and a 1 year high of $3.78. The firm has a fifty day moving average price of $1.46 and a 200 day moving average price of $1.30.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. On average, sell-side analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ALLO. Savant Capital LLC bought a new position in shares of Allogene Therapeutics during the 3rd quarter worth about $27,000. Russell Investments Group Ltd. raised its position in Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after purchasing an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics during the third quarter worth about $30,000. Finally, Brighton Jones LLC boosted its holdings 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 in the last quarter. Institutional investors own 83.63% of the company’s stock.

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.