SCHEDULE: Dr. David Chang & Affiliates Adjust Allogene Therapeutics Stake
Beneficial Ownership Report
Dr. David D. Chang and affiliated trusts have updated their beneficial ownership in Allogene Therapeutics, Inc., now holding an aggregate of 4.9% of common stock.
Summary
- David D. Chang, M.D., Ph.D. and three affiliated trusts (Chang 2006 Family Trust, JEC 2019 Trust, RTC 2019 Trust) are the reporting persons.
- Dr. Chang beneficially owns an aggregate of 11,234,918 shares of Allogene Therapeutics, Inc. common stock.
- This aggregate ownership represents 4.9% of the company's common stock.
- The beneficial ownership includes 5,507,042 shares of common stock issuable within 60 days of September 30, 2025, upon the exercise of stock options held by Dr. Chang.
- Dr. Chang also has shared beneficial ownership through his role as co-trustee for the Chang 2006 Family Trust (1,201,108 shares), JEC 2019 Trust (856,044 shares), and RTC 2019 Trust (856,044 shares).
- The percentage of class is calculated based on 221,881,029 shares of common stock outstanding as of August 11, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q filed on August 13, 2025.
- This filing is an Amendment No. 5 to Schedule 13G.
Sentiment
Score: 6
Explanation: The filing reports a significant insider's beneficial ownership, which includes exercisable options, suggesting continued interest. However, the ownership percentage is below 5%, indicating a passive investment stance.
Positives
- Dr. David D. Chang, a key individual, maintains a significant beneficial ownership of 4.9% in Allogene Therapeutics, Inc.
- Beneficial ownership includes a substantial number of shares (5,507,042) issuable from stock options, indicating potential long-term interest.
Negatives
- Dr. Chang's aggregate beneficial ownership is now 4.9%, falling below the 5% threshold that typically triggers a Schedule 13D filing, indicating a passive investment stance rather than an active one.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- Dr. David D. Chang is co-trustee for the Chang 2006 Family Trust, JEC 2019 Trust, and RTC 2019 Trust, whose shares are included in his aggregate beneficial ownership.
Stakeholder Impact
- Shareholders: Provides transparency on a significant insider's ownership stake, which can influence investor sentiment.
Key Dates
| Date | Description |
|---|---|
| 2025-08-11 | Date as of which 221,881,029 shares of common stock were outstanding, used for percentage calculation. |
| 2025-08-13 | Date of Issuer's Quarterly Report on Form 10-Q, which reported the shares outstanding. |
| 2025-09-30 | Date of event which requires filing of this statement. |
| 2025-11-12 | Date of signing for the Schedule 13G by all reporting persons. |
Recommendation
holdThe filing is a routine update on beneficial ownership by a key insider. While Dr. Chang maintains a significant stake, the percentage is below the 5% threshold, indicating a passive investment. This information alone does not warrant a change in investment strategy, thus a 'hold' recommendation is appropriate for existing investors. New investors would need more comprehensive company and market analysis.
Keywords
Allogene Therapeutics, ALLO, David D. Chang, beneficial ownership, Schedule 13G, common stock, insider ownership, biotech, pharmaceuticals
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