Allogene Therapeutics (NASDAQ:ALLO) Shares Down 6% – Should You Sell?

Allogene Therapeutics, Inc. (NASDAQ:ALLO) traded down 6% during trading on Tuesday . The company traded as low as $2.26 and last traded at $2.2750. 1,110,116 shares were traded during trading, a decline of 87% from the average session volume of 8,680,275 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Sanford C. Bernstein increased their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a research note on Tuesday, April 14th. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Robert W. Baird increased their target price on Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. HC Wainwright increased their target price on Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, Jefferies Financial Group increased their target price on Allogene Therapeutics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.44.

Allogene Therapeutics Stock Performance

The firm has a market cap of $564.35 million, a P/E ratio of -2.66 and a beta of 0.53. The firm has a fifty day moving average of $2.36 and a 200-day moving average of $1.74.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. Equities research analysts expect that Allogene Therapeutics, Inc. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Allogene Therapeutics

In other news, EVP Zachary Roberts sold 35,700 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.77, for a total transaction of $63,189.00. Following the sale, the executive vice president directly owned 581,166 shares of the company’s stock, valued at $1,028,663.82. The trade was a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Geoffrey M. Parker sold 24,001 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total value of $42,241.76. Following the sale, the chief financial officer directly owned 1,252,795 shares in the company, valued at $2,204,919.20. This trade represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 278,452 shares of company stock valued at $534,053 over the last quarter. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Large investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC acquired a new position in Allogene Therapeutics during the first quarter valued at $27,000. Krilogy Financial LLC acquired a new position in Allogene Therapeutics during the first quarter valued at $40,000. Savant Capital LLC acquired a new position in Allogene Therapeutics during the third quarter valued at $27,000. Russell Investments Group Ltd. raised its position in Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after buying an additional 21,650 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Allogene Therapeutics during the third quarter valued at $30,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

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.