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 firm’s 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 sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This trade represents a 0.88 % 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 during trading hours on Tuesday, reaching $1.69. 3,349,922 shares of the company were exchanged, compared to its average volume of 3,049,664. The firm has a market cap of $354.35 million, a PE 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 $4.74. The stock’s 50-day moving average is $1.93 and its 200-day moving average is $2.31.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Cibc World Markets Corp acquired a new stake in shares of Allogene Therapeutics in the fourth quarter worth approximately $26,000. PAX Financial Group LLC acquired a new stake in Allogene Therapeutics during the 4th quarter worth $27,000. RPO LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth $31,000. Caption Management LLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter valued at about $32,000. Finally, Syon Capital LLC purchased a new position in shares of Allogene Therapeutics in the fourth quarter worth about $39,000. 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).