Allogene Therapeutics (NASDAQ:ALLO) SVP Sells 29,697 Shares

Key Points

• Allogene Therapeutics SVP Earl Martin Douglas sold 29,697 shares at an average price of $2.12, generating $62,957.64. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 5.73%.
• Allogene shares recently traded at $2.17, with a 12-month range of $1.04 to $4.46 and a market capitalization of approximately $749.7 million. The company reported a quarterly loss of $0.13 per share, beating analyst expectations of a $0.17 loss.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $8.30, while institutional investors own 83.63% of the stock.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) SVP Earl Martin Douglas sold 29,697 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. The trade was a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO traded up $0.14 during trading on Tuesday, reaching $2.17. 6,156,169 shares of the company's stock traded hands, compared to its average volume of 8,081,610. The stock has a market capitalization of $749.71 million, a P/E ratio of -3.24 and a beta of 0.48. Allogene Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $4.46. The company has a 50 day moving average of $1.98 and a 200-day moving average of $2.14.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to the consensus estimate of $0.00 million. Equities research analysts predict that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALLO has been the subject of a number of analyst reports. Weiss Ratings lowered Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 12th. Citizens Jmp reissued a "market outperform" rating and set a $6.00 price target on shares of Allogene Therapeutics in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $8.30.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of 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% during 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 in the last quarter. Primecap Management Co. CA bought a new stake in Allogene Therapeutics during the second quarter worth approximately $27,297,000. Vanguard Group Inc. lifted its position in Allogene Therapeutics by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company's stock worth $11,186,000 after purchasing an additional 761,642 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company's pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.

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