A company insider recently sold 5,000 shares of Allogene Therapeutics Inc. [ALLO]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Allogene Therapeutics Inc. shares valued at $86,250 were sold by WITTE OWEN N. on Aug 12. At $17.25 per share, WITTE OWEN N. sold 5,000 shares. The insider’s holdings dropped to 218,271 shares worth approximately $2.52 million following the completion of this transaction.


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Also, WITTE OWEN N. sold 5,000 shares, netting a total of over 86,250 in proceeds. Following the sale of shares at $17.25 each, the insider now holds 218,271 shares.

Before that, WITTE OWEN N. had sold 10,000 shares from its account. In a trade valued at $165,000, the Director traded Allogene Therapeutics Inc. shares for $16.50 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $2.57 million.

As published in a research note from Raymond James on August 10, 2022, Allogene Therapeutics Inc. [ALLO] has been rated down from an Outperform to a Mkt perform. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid July. As of June 03, 2022, Robert W. Baird has initiated its “Neutral” rating for ALLO. Earlier on February 28, 2022, B. Riley Securities resumed its rating. Their recommendation was “a Buy” for ALLO stock.

Analyzing ALLO’s Price Performance

On Wednesday, Allogene Therapeutics Inc. [NASDAQ: ALLO] plunged -13.63% to $11.53. The stock’s lowest price that day was $11.48, but it reached a high of $13.41 in the same session. During the last five days, there has been a drop of approximately -19.82%. Over the course of the year, Allogene Therapeutics Inc. shares have dropped approximately -22.72%. Shares of the company reached a 52-week high of $17.49 on 08/12/22 and a 52-week low of $6.43 on 05/12/22. A 50-day SMA is recorded $14.25, while a 200-day SMA reached $11.47. Nevertheless, trading volume fell to 2.35 million shares from 1.21 million shares the previous day.

Support And Resistance Levels for Allogene Therapeutics Inc. (ALLO)

According to the 24-hour chart, there is a support level at 10.87, which, if violated, would cause prices to drop to 10.21. In the upper region, resistance lies at 12.80. The next price resistance is at 14.07. RSI (Relative Strength Index) is 33.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.29, which suggests the price will decrease in the coming days. Percent R is at 98.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Allogene Therapeutics Inc. subject to short interest?

Stocks of Allogene Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.37 million shares to 22.43 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 22.06 million shares. A jump of 1.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.53 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.53.

Which companies own the most shares of Allogene Therapeutics Inc. (ALLO)?

According to The Vanguard Group, Inc. filings, the company currently owns 8,274,861 shares, which is about 5.75% of the total ALLO shares outstanding. The investor’s shares have appreciated by 1,659,236 from its previous 13-F filing of 6615625.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $85,049,958. Woodline Partners LP acquire a 1,255.94% interest valued at $80.34 million while SSgA Funds Management, Inc. sold a -2,223,324 stake. A total of 1,292,441 shares of Allogene Therapeutics Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and -23,300 were sold by PRIMECAP Management Co. In its current portfolio, Ecor1 Capital LLC holds 4,488,200 shares valued at $61.53 million.

In terms of Allogene Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $27.75 in the next 12 months, up nearly 94.76% from the previous closing price of $13.35. Analysts anticipate Allogene Therapeutics Inc. stock to reach $55.00 by 2022, with the lowest price target being $15.00. In spite of this, 19 analysts ranked Allogene Therapeutics Inc. stock as an Overweight at the end of 2022.

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