Allogene Therapeutics (NASDAQ:ALLO) SVP Sells $18,543.20 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) SVP Benjamin Machinas Beneski sold 7,132 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $2.60, for a total value of $18,543.20. Following the sale, the senior vice president owned 203,040 shares of the company’s stock, valued at approximately $527,904. The trade was a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Benjamin Machinas Beneski also recently made the following trade(s):

• On Monday, February 2nd, Benjamin Machinas Beneski sold 7,549 shares of Allogene Therapeutics stock. The stock was sold at an average price of $1.73, for a total value of $13,059.77.

Allogene Therapeutics Stock Down 0.4%

Shares of ALLO stock opened at $2.30 on Friday. Allogene Therapeutics, Inc. has a 12 month low of $0.86 and a 12 month high of $2.80. The firm has a market cap of $516.88 million, a PE ratio of -2.35 and a beta of 0.50. The stock has a 50 day moving average of $1.82 and a 200-day moving average of $1.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Allogene Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $8.00 target price for the company. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Finally, Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.40.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALLO. Mercer Global Advisors Inc. ADV lifted its position in Allogene Therapeutics by 23.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock worth $40,000 after purchasing an additional 5,514 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Allogene Therapeutics by 27.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after buying an additional 8,519 shares during the period. Quadrature Capital Ltd raised its stake in shares of Allogene Therapeutics by 29.6% in the 2nd quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock valued at $50,000 after buying an additional 10,059 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Allogene Therapeutics by 81.6% in the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after buying an additional 11,311 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of Allogene Therapeutics by 2.7% during the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock worth $652,000 after acquiring an additional 13,831 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

About Allogene Therapeutics

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.