David D. Chang Sells 46,668 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CEO David D. Chang sold 46,668 shares of the company’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 value of $91,469.28. Following the sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.69 on Thursday. The company has a 50 day moving average of $1.91 and a 200-day moving average of $2.30. The firm has a market cap of $367.18 million, a P/E ratio of -1.08 and a beta of 1.02. Allogene Therapeutics, Inc. has a twelve month low of $1.32 and a twelve month high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly 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. Equities research analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. abrdn plc acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $776,000. Barclays PLC lifted its stake in Allogene Therapeutics by 101.5% during the third quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after purchasing an additional 172,745 shares during the last quarter. Zacks Investment Management acquired a new stake in Allogene Therapeutics during the third quarter valued at approximately $1,446,000. Geode Capital Management LLC lifted its stake in Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after purchasing an additional 407,070 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after purchasing an additional 173,457 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on ALLO. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Citizens Jmp upgraded shares of 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, March 14th. HC Wainwright decreased their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.29.

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).