Insider Selling: Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO Sells 46,668 Shares of Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the sale, the chief executive officer now owns 5,276,569 shares in the company, valued at $10,342,075.24. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $1.69 on Thursday. The firm’s 50 day moving average price is $1.91 and its two-hundred day moving average price is $2.30. Allogene Therapeutics, Inc. has a twelve month low of $1.32 and a twelve month high of $4.63. The firm has a market cap of $367.18 million, a PE ratio of -1.08 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. Equities analysts anticipate that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALLO shares. HC Wainwright cut their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $9.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Lynx1 Capital Management LP increased its stake in shares of Allogene Therapeutics by 75.3% during the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock worth $23,163,000 after purchasing an additional 4,672,349 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Allogene Therapeutics by 30.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock worth $7,586,000 after purchasing an additional 831,146 shares during the last quarter. Foresite Capital Management VI LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $7,345,000. Geode Capital Management LLC boosted its holdings in shares of Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after buying an additional 407,070 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Allogene Therapeutics by 12.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company’s stock worth $5,756,000 after buying an additional 291,800 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).