Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO Sells $91,469.28 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David D. Chang sold 46,668 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the transaction, the chief executive officer now owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.69 on Wednesday. Allogene Therapeutics, Inc. has a 52-week low of $1.32 and a 52-week high of $4.63. The company has a market capitalization of $354.35 million, a P/E ratio of -1.08 and a beta of 1.02. The company has a 50-day simple moving average of $1.92 and a 200 day simple moving average of $2.30.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. As a group, equities analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently bought and sold shares of the company. Lynx1 Capital Management LP lifted its position in 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 acquiring an additional 4,672,349 shares during the last quarter. 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 increased its holdings in shares of 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 purchasing an additional 831,146 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALLO. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Friday, March 14th. 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, March 14th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a report 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 presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Allogene Therapeutics Company Profile

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).