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

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 shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Allogene Therapeutics Price Performance

ALLO stock opened at $1.69 on Wednesday. The company has a 50 day moving average price of $1.92 and a 200 day moving average price of $2.30. Allogene Therapeutics, Inc. has a fifty-two week low of $1.32 and a fifty-two week high of $4.63. The stock has a market capitalization of $354.35 million, a PE ratio of -1.08 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data 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, equities analysts expect that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Cibc World Markets Corp bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $26,000. PAX Financial Group LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $27,000. RPO LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $31,000. Caption Management LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $32,000. Finally, Syon Capital LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALLO. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

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).