Allogene Therapeutics (NASDAQ:ALLO) Upgraded at Truist Financial

Truist Financial upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on ALLO. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 13th. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Friday, January 9th. Piper Sandler lifted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. UBS Group started coverage on Allogene Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.56.

Allogene Therapeutics Trading Down 6.2%

ALLO stock opened at $2.26 on Wednesday. Allogene Therapeutics has a 12 month low of $0.86 and a 12 month high of $2.80. The stock has a market capitalization of $550.94 million, a P/E ratio of -2.60 and a beta of 0.50. The firm has a 50-day moving average price of $2.08 and a 200-day moving average price of $1.59.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.08. As a group, equities analysts predict that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Activity

In related 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 transaction, the executive vice president owned 581,166 shares in the company, valued at $1,028,663.82. The trade was a 5.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Geoffrey M. Parker sold 24,001 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the transaction, the chief financial officer directly owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. The trade was a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 275,585 shares of company stock worth $526,886. 13.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Allogene Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Savant Capital LLC purchased a new stake in shares of Allogene Therapeutics in the 3rd quarter worth about $27,000. Russell Investments Group Ltd. increased its position in shares of Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $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% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after buying an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Allogene Therapeutics in the third quarter worth about $30,000. Finally, Brighton Jones LLC boosted its position in Allogene Therapeutics by 81.6% during the 3rd 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 in the last quarter. Institutional investors own 83.63% of the company’s stock.

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.