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David D. Chang, President and CEO of Allogene Therapeutics, Inc. (NASDAQ:ALLO), recently sold 46,668 shares of the company’s common stock. The sale, which took place on March 14, 2025, was executed at a price of $1.96 per share, amounting to a total value of $91,469. The stock, currently trading at $1.70, has experienced significant pressure, declining nearly 9% in the past week. According to InvestingPro analysis, the company appears undervalued at current levels.
The transaction was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by the company’s equity incentive plan. Following this sale, Chang retains direct ownership of 5,276,569 shares. Additionally, he holds indirect ownership through various trusts, with a total of 2,911,196 shares. While the company maintains a strong liquidity position with a current ratio of 8.54 and more cash than debt on its balance sheet, InvestingPro subscribers can access detailed insider trading patterns and 12 additional key insights about ALLO’s financial health.
This transaction highlights the ongoing changes in executive stock holdings within Allogene Therapeutics, a company focused on developing innovative cell therapies for cancer treatment. Despite its niche position in the biotechnology sector, the company faces near-term challenges with analysts anticipating a sales decline in the current year.
In other recent news, Allogene Therapeutics reported a narrower-than-expected loss for Q4 2024, with an EPS of -$0.28, surpassing the forecast of -$0.32. Although the company’s revenue forecast was $11.87 billion, actual revenue figures were not disclosed. The company maintains a strong cash position of $373.1 million, which is expected to extend into 2026. Analyst Reni Benjamin from Citizens JMP upgraded Allogene’s stock rating from Market Perform to Market Outperform, setting a new price target of $5.00, citing promising clinical trial results for the ALPHA3 therapy. Meanwhile, Citi analyst Samantha Semenkow reaffirmed a Buy rating with a price target of $8.00, highlighting optimism in Allogene’s clinical trials, particularly the ongoing ALPHA3 study. The ALPHA3 trial is anticipated to undergo a futility assessment in mid-2025, a key milestone being closely watched by investors. Additionally, Allogene is progressing with its ALLO-329 trial in autoimmune diseases, with initial proof-of-concept data expected by the end of 2025. These developments underscore Allogene’s strategic focus on innovation and its potential impact in the biotechnology sector.
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