Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Average Recommendation of “Moderate Buy” by Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.40.

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

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $2.73 on Friday. The business’s fifty 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 price-to-earnings ratio of -2.79 and a beta of 0.60. Allogene Therapeutics has a 52 week low of $0.86 and a 52 week high of $2.74.

Insider Buying and Selling

In other news, EVP Zachary Roberts sold 35,700 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.77, for a total transaction of $63,189.00. Following the completion of the transaction, the executive vice president directly owned 581,166 shares in the company, valued at approximately $1,028,663.82. The trade was a 5.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David D. Chang sold 95,269 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.80, for a total value of $171,484.20. Following the completion of the sale, the chief executive officer directly owned 5,185,862 shares of the company’s stock, valued at approximately $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 215,855 shares of company stock valued at $378,426 over the last 90 days. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently bought and sold shares of the company. Savant Capital LLC bought a new position in shares of Allogene Therapeutics during the third quarter worth $27,000. Russell Investments Group Ltd. raised its stake in Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after buying an additional 21,650 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after acquiring an additional 23,599 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Allogene Therapeutics in the third quarter valued at about $30,000. Finally, Brighton Jones LLC grew its stake in Allogene Therapeutics by 81.6% in the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after acquiring an additional 11,311 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

About Allogene Therapeutics

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.