Allogene Therapeutics (NASDAQ:ALLO) Stock: Insider Geoffrey Parker Sells 36,342 Shares

Allogene Therapeutics, Inc. (NASDAQ:ALLO) CFO Geoffrey Parker sold 36,342 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were 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 of the company’s stock, valued at $1,401,475.18. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.25 on Friday. The stock has a market capitalization of $431.86 million, a price-to-earnings ratio of -1.87 and a beta of 0.56. Allogene Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $4.46. The company has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.96.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. On average, sell-side analysts expect that Allogene Therapeutics, Inc. will post -0.58 EPS for the current fiscal year.

Institutional Trading of Allogene Therapeutics

Large investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth approximately $27,000. Pallas Capital Advisors LLC bought a new position in shares of Allogene Therapeutics in the second quarter worth about $25,000. Bull Harbor Capital LLC bought a new position in shares of Allogene Therapeutics in the first quarter worth about $31,000. GTS Securities LLC acquired a new position in Allogene Therapeutics during the 2nd quarter worth $27,000. Finally, Krilogy Financial LLC acquired a new stake in Allogene Therapeutics in the first quarter worth about $40,000. 83.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALLO. William Blair raised Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $6.00 target price on shares of Allogene Therapeutics in a report on Monday, August 17th. Two research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Company Profile

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.