Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Average Rating of “Moderate Buy” from Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $16.35.

Several equities analysts have issued reports on ALLO shares. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Allogene Therapeutics in a report on Monday, August 7th. Truist Financial dropped their price target on Allogene Therapeutics from $20.00 to $18.00 in a research note on Wednesday, July 12th. Stifel Nicolaus reduced their price objective on Allogene Therapeutics from $8.00 to $7.50 in a research note on Thursday, May 4th. Oppenheimer restated an “outperform” rating and set a $28.00 target price on shares of Allogene Therapeutics in a research report on Thursday, August 3rd. Finally, JMP Securities cut their target price on shares of Allogene Therapeutics from $19.00 to $15.00 in a report on Friday, May 5th.

Insider Transactions at Allogene Therapeutics

In related news, Director Stephen Mayo sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $4.29, for a total value of $42,900.00. Following the completion of the sale, the director now owns 25,328 shares in the company, valued at $108,657.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 27.40% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALLO. Penserra Capital Management LLC acquired a new position in Allogene Therapeutics during the first quarter worth $66,000. Great West Life Assurance Co. Can raised its stake in shares of Allogene Therapeutics by 26.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 8,827 shares of the company’s stock worth $43,000 after buying an additional 1,826 shares during the last quarter. CI Investments Inc. boosted its position in shares of Allogene Therapeutics by 341.1% in the 4th quarter. CI Investments Inc. now owns 9,002 shares of the company’s stock worth $57,000 after buying an additional 6,961 shares in the last quarter. Nordwand Advisors LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $60,000. Finally, Centaurus Financial Inc. acquired a new stake in Allogene Therapeutics in the 1st quarter valued at about $49,000. 78.51% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Up 3.1 %

Shares of ALLO opened at $3.96 on Thursday. The company has a market capitalization of $663.81 million, a price-to-earnings ratio of -1.62 and a beta of 0.74. Allogene Therapeutics has a 52-week low of $3.70 and a 52-week high of $15.56. The stock has a 50 day moving average price of $4.68 and a 200 day moving average price of $5.31.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.06. Allogene Therapeutics had a negative net margin of 184,733.34% and a negative return on equity of 54.13%. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.01 million. During the same quarter in the prior year, the business posted ($0.52) EPS. The company’s revenue for the quarter was down 48.8% on a year-over-year basis. On average, equities analysts anticipate that Allogene Therapeutics will post -2.25 EPS for the current fiscal year.

Allogene Therapeutics Company Profile

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 ALL.