Insider Selling: Allogene Therapeutics, Inc. (NASDAQ:ALLO) EVP Sells 27,199 Shares of Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the completion of the sale, the executive vice president now directly owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Allogene Therapeutics Trading Up 3.2 %

Allogene Therapeutics stock opened at $1.94 on Friday. The company has a market capitalization of $406.76 million, a price-to-earnings ratio of -1.24 and a beta of 0.86. Allogene Therapeutics, Inc. has a 12 month low of $1.78 and a 12 month high of $5.78. The stock’s 50 day moving average is $2.12 and its 200-day moving average is $2.51.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of Allogene Therapeutics during the second quarter worth $29,000. Private Advisor Group LLC acquired a new stake in Allogene Therapeutics in the 3rd quarter worth about $34,000. Algert Global LLC bought a new stake in Allogene Therapeutics in the 2nd quarter valued at about $35,000. MML Investors Services LLC bought a new stake in Allogene Therapeutics in the 3rd quarter valued at about $56,000. Finally, AQR Capital Management LLC bought a new position in shares of Allogene Therapeutics during the second quarter worth approximately $64,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALLO has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Allogene Therapeutics in a research note on Friday, November 8th. Finally, Piper Sandler cut their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average price target of $9.73.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).