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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.5222.

Several research firms recently commented on ALLO. Sanford C. Bernstein increased their price target on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday, April 14th. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 13th. Robert W. Baird raised their target price on Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. raised Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Thursday, April 16th. Finally, Truist Financial raised Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 47,763 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $2.47, for a total transaction of $117,974.61. Following the completion of the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 65,051 shares of company stock worth $159,228 over the last ninety days. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC acquired a new stake in Allogene Therapeutics during the first quarter worth $27,000. Bull Harbor Capital LLC purchased a new position in shares of Allogene Therapeutics during the first quarter worth $31,000. Krilogy Financial LLC purchased a new position in shares of Allogene Therapeutics during the first quarter worth $40,000. Essential Partners LLC boosted its position in shares of Allogene Therapeutics by 525.9% during the first quarter. Essential Partners LLC now owns 19,410 shares of the company’s stock worth $47,000 after buying an additional 16,309 shares during the period. Finally, Savant Capital LLC purchased a new position in shares of Allogene Therapeutics during the third quarter worth $27,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.88 on Friday. Allogene Therapeutics has a one year low of $0.98 and a one year high of $4.46. The stock has a market cap of $648.88 million, a PE ratio of -2.44 and a beta of 0.46. The stock has a 50 day moving average price of $2.28 and a 200 day moving average price of $1.94.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, analysts predict that Allogene Therapeutics will post -0.72 earnings per share for the current fiscal year.

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.