Allogene Therapeutics (NASDAQ:ALLO) CFO Geoffrey Parker Sells 36,744 Shares

Key Points

• CFO Geoffrey Parker of Allogene Therapeutics sold 36,744 shares at an average price of $1.26, resulting in a total transaction value of $46,297.44.
• Despite the recent sale, Parker still owns approximately 1.28 million shares, valued at around $1.61 million, constituting a 2.80% decrease in his ownership.
• Wall Street analysts have lowered their ratings on Allogene Therapeutics, with some firms such as Wall Street Zen and Weiss Ratings changing their outlook to "sell."

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) CFO Geoffrey Parker sold 36,744 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total value of $46,297.44. Following the transaction, the chief financial officer owned 1,276,796 shares in the company, valued at $1,608,762.96. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock remained flat at $1.21 during trading on Thursday. The stock had a trading volume of 1,647,343 shares, compared to its average volume of 4,123,819. The business has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.26. Allogene Therapeutics, Inc. has a 12-month low of $0.86 and a 12-month high of $3.78. The company has a market capitalization of $268.47 million, a PE ratio of -1.09 and a beta of 0.43.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. As a group, sell-side analysts expect that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen cut Allogene Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, October 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. JMP Securities reiterated a "market perform" rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.44.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after purchasing an additional 3,747,397 shares during the last quarter. Primecap Management Co. CA increased its position in Allogene Therapeutics by 16.0% during the second quarter. Primecap Management Co. CA now owns 5,719,140 shares of the company's stock valued at $6,463,000 after acquiring an additional 787,300 shares during the last quarter. Frazier Life Sciences Management L.P. increased its position in Allogene Therapeutics by 34.9% during the first quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,001,000 shares during the last quarter. Geode Capital Management LLC increased its position in Allogene Therapeutics by 13.0% during the second quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company's stock valued at $4,289,000 after acquiring an additional 435,389 shares during the last quarter. Finally, Patient Square Capital LP increased its position in Allogene Therapeutics by 11.3% during the second quarter. Patient Square Capital LP now owns 2,635,000 shares of the company's stock valued at $2,978,000 after acquiring an additional 266,814 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company's stock.

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).

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