Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) SVP Earl Martin Douglas sold 29,697 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the transaction, the senior vice president owned 488,267 shares of the company's stock, valued at $1,035,126.04. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Allogene Therapeutics Stock Up 6.9%
ALLO opened at $2.17 on Wednesday. The firm's fifty day simple moving average is $1.99 and its two-hundred day simple moving average is $2.14. Allogene Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $4.46. The company has a market cap of $749.71 million, a price-to-earnings ratio of -3.24 and a beta of 0.48.
Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analysts' expectations of $0.00 million. On average, research analysts forecast that Allogene Therapeutics, Inc. will post -0.59 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on ALLO shares. Citizens Jmp reiterated a "market outperform" rating and set a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings lowered Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.30.
View Our Latest Analysis on ALLO
Institutional Investors Weigh In On Allogene Therapeutics
A number of hedge funds have recently modified their holdings of ALLO. Kestra Private Wealth Services LLC acquired a new position in Allogene Therapeutics during the first quarter worth about $27,000. Pallas Capital Advisors LLC acquired a new stake in Allogene Therapeutics in the 2nd quarter valued at about $25,000. Bull Harbor Capital LLC acquired a new stake in Allogene Therapeutics in the 1st quarter valued at about $31,000. GTS Securities LLC purchased a new position in Allogene Therapeutics in the 2nd quarter worth approximately $27,000. Finally, Krilogy Financial LLC acquired a new position in shares of Allogene Therapeutics during the 1st quarter worth approximately $40,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.
Allogene Therapeutics Company Profile
(
Get Free Report)
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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