Benjamin Machinas Beneski Sells 5,488 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 5,488 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.98, for a total value of $10,866.24. Following the transaction, the senior vice president now directly owns 218,507 shares of the company’s stock, valued at $432,643.86. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Allogene Therapeutics Trading Down 8.6 %

NASDAQ:ALLO traded down $0.16 on Tuesday, hitting $1.69. The company’s stock had a trading volume of 3,349,922 shares, compared to its average volume of 3,049,664. The firm has a market capitalization of $354.35 million, a P/E ratio of -1.08 and a beta of 1.02. Allogene Therapeutics, Inc. has a one year low of $1.32 and a one year high of $4.74. The stock has a fifty day moving average of $1.93 and a two-hundred day moving average of $2.31.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. As a group, sell-side analysts anticipate that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

ALLO has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a report on Friday. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a report on Friday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently made changes to their positions in ALLO. Lynx1 Capital Management LP increased its stake in shares of Allogene Therapeutics by 75.3% during the fourth 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 period. Foresite Capital Management VI LLC acquired a new stake in Allogene Therapeutics during the fourth quarter worth approximately $7,345,000. Patient Square Capital LP acquired a new stake in Allogene Therapeutics during the fourth quarter worth approximately $3,174,000. Gilead Sciences Inc. acquired a new stake in Allogene Therapeutics during the fourth quarter worth approximately $2,464,000. Finally, Dimensional Fund Advisors LP grew its position in Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock worth $7,586,000 after buying an additional 831,146 shares in the last quarter. Institutional investors 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).