Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) PT at $9.29

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.29.

ALLO has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. HC Wainwright dropped their price target on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Friday, March 14th.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO opened at $1.37 on Tuesday. The firm has a market capitalization of $297.65 million, a price-to-earnings ratio of -0.88 and a beta of 0.99. The business’s 50 day moving average price is $1.76 and its 200-day moving average price is $2.15. Allogene Therapeutics has a 1 year low of $1.23 and a 1 year high of $4.21.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. On average, sell-side analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Transactions at Allogene Therapeutics

In other news, EVP Zachary Roberts sold 27,199 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now owns 488,054 shares of the company’s stock, valued at $868,736.12. This represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David D. Chang sold 46,668 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the sale, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at $10,342,075.24. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,866 shares of company stock worth $194,461 in the last quarter. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in ALLO. abrdn plc purchased a new stake in Allogene Therapeutics in the fourth quarter valued at approximately $776,000. Barclays PLC raised its holdings in shares of Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after buying an additional 172,745 shares during the period. Zacks Investment Management acquired a new position in Allogene Therapeutics during the 3rd quarter worth about $1,446,000. Geode Capital Management LLC boosted its holdings in Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after acquiring an additional 407,070 shares during the period. Finally, Vontobel Holding Ltd. grew its position in Allogene Therapeutics by 788.4% in the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after acquiring an additional 173,457 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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 acute lymphoblastic leukemia (ALL).