Allogene Therapeutics (NASDAQ:ALLO) CFO Geoffrey Parker Sells 36,342 Shares of Company Stock

Key Points

• Allogene Therapeutics CFO Geoffrey Parker sold 36,342 shares at an average price of $1.34, totaling $48,698.28. The sale, which reduced his holdings by 3.36%, was made to cover tax withholding tied to vested equity awards.
• ALLO shares were flat at $1.25, near the lower end of their 52-week range of $1.04 to $4.46. The company reported a quarterly loss of $0.13 per share, beating analyst expectations of a $0.17 loss, while revenue reached $4.64 million.
• Institutional investors own 83.63% of the stock, with several major firms adding positions. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $8.30.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) CFO Geoffrey Parker sold 36,342 shares of the company's stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $1.34, for a total transaction of $48,698.28. Following the completion of the sale, the chief financial officer directly owned 1,045,877 shares in the company, valued at approximately $1,401,475.18. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock remained flat at $1.25 during mid-day trading on Friday. 8,403,258 shares of the company were exchanged, compared to its average volume of 7,597,198. Allogene Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $4.46. The company has a market capitalization of $431.86 million, a P/E ratio of -1.87 and a beta of 0.56. The company has a fifty day simple moving average of $1.72 and a 200-day simple moving average of $1.96.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. On average, equities research analysts expect that Allogene Therapeutics, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALLO. BlackRock Inc. bought a new stake in Allogene Therapeutics in the second quarter valued at approximately $62,706,000. Frazier Life Sciences Management L.P. raised its holdings in Allogene Therapeutics by 491.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company's stock worth $46,689,000 after purchasing an additional 18,650,000 shares during the period. Primecap Management Co. CA bought a new position in shares of Allogene Therapeutics during the second quarter worth $27,297,000. Walleye Capital LLC bought a new position in shares of Allogene Therapeutics during the second quarter worth $6,797,000. Finally, Bank of America Corp DE acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $6,630,000. Institutional investors and hedge funds own 83.63% of the company's stock.

Analyst Ratings Changes

ALLO has been the subject of a number of research analyst reports. William Blair raised shares of Allogene Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 23rd. Weiss Ratings raised shares of Allogene Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $6.00 price target on shares of Allogene Therapeutics in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.30.

About Allogene Therapeutics

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient's own cells, Allogene's approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company's investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.

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