Piper Sandler Issues Pessimistic Forecast for Allogene Therapeutics (NASDAQ:ALLO) Stock Price

Allogene Therapeutics (NASDAQ:ALLO) had its price objective lowered by equities research analysts at Piper Sandler from $9.00 to $7.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. Citizens Jmp cut Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Robert W. Baird decreased their target price on Allogene Therapeutics from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on Allogene Therapeutics from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Oppenheimer decreased their target price on Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.44.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $1.09 on Wednesday. The business has a 50 day simple moving average of $1.50 and a 200 day simple moving average of $1.93. Allogene Therapeutics has a one year low of $0.86 and a one year high of $3.78. The stock has a market capitalization of $238.39 million, a P/E ratio of -0.70 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). Equities analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the sale, the chief executive officer now owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 61,757 shares of company stock valued at $115,873. Company insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cibc World Markets Corp bought a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $26,000. PAX Financial Group LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Allogene Therapeutics in the first quarter valued at approximately $28,000. RPO LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $31,000. Finally, Caption Management LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $32,000. Institutional investors own 83.63% of the company’s stock.

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).