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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $8.40.

ALLO has been the topic of a number of research reports. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, January 9th. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. UBS Group initiated coverage on shares of Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd.

Allogene Therapeutics Stock Up 7.9%

ALLO opened at $2.73 on Friday. The stock’s 50 day moving average price is $1.69 and its two-hundred day moving average price is $1.40. The firm has a market capitalization of $613.51 million, a P/E ratio of -2.79 and a beta of 0.60. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $2.74.

Insider Activity

In related news, SVP Earl Martin Douglas sold 22,900 shares of Allogene Therapeutics stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $40,304.00. Following the completion of the transaction, the senior vice president directly owned 564,948 shares of the company’s stock, valued at $994,308.48. This trade represents a 3.90% 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 95,269 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.80, for a total transaction of $171,484.20. Following the completion of the transaction, the chief executive officer owned 5,185,862 shares in the company, valued at approximately $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 215,855 shares of company stock worth $378,426. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares in the last quarter. Kalehua Capital Management LLC acquired a new stake in Allogene Therapeutics in the 4th quarter valued at about $3,488,000. Patient Square Capital LP increased its position in Allogene Therapeutics by 66.5% in the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after acquiring an additional 1,982,360 shares in the last quarter. Millennium Management LLC raised its stake in shares of Allogene Therapeutics by 125.6% in the third quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock worth $4,204,000 after acquiring an additional 1,887,302 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Allogene Therapeutics by 109.7% during the third quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock worth $4,196,000 after purchasing an additional 1,770,419 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.