Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.95 Average PT from Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received an average recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.95.

Several research analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. HC Wainwright decreased their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Piper Sandler initiated coverage on Allogene Therapeutics in a report on Friday, May 31st. They set an “overweight” rating and a $11.00 price objective on the stock. Truist Financial reissued a “buy” rating and issued a $17.00 target price on shares of Allogene Therapeutics in a report on Wednesday, May 15th. Finally, Stifel Nicolaus raised their price target on Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a research note on Tuesday, May 14th.

Insider Buying and Selling at Allogene Therapeutics

In related news, Director Arie Belldegrun acquired 1,724,137 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the transaction, the director now owns 1,724,137 shares of the company’s stock, valued at $4,999,997.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Arie Belldegrun purchased 1,724,137 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average cost of $2.90 per share, for a total transaction of $4,999,997.30. Following the completion of the purchase, the director now directly owns 1,724,137 shares in the company, valued at approximately $4,999,997.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Franz B. Humer sold 11,200 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the transaction, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The disclosure for this sale can be found here. 24.30% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

A number of institutional investors have recently modified their holdings of the business. Affinity Asset Advisors LLC acquired a new stake in Allogene Therapeutics in the fourth quarter valued at $1,284,000. Caxton Associates LP increased its holdings in shares of Allogene Therapeutics by 61.4% in the 4th quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after purchasing an additional 294,989 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Allogene Therapeutics in the first quarter valued at about $1,280,000. SG Americas Securities LLC purchased a new stake in Allogene Therapeutics during the fourth quarter worth about $172,000. Finally, Vanguard Group Inc. grew its position in Allogene Therapeutics by 41.1% during the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after buying an additional 3,086,311 shares during the period. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Price Performance

Shares of NASDAQ ALLO opened at $2.91 on Friday. The business has a 50-day moving average of $2.54 and a two-hundred day moving average of $3.44. The company has a market capitalization of $608.19 million, a price-to-earnings ratio of -1.63 and a beta of 0.85. Allogene Therapeutics has a 1 year low of $2.01 and a 1 year high of $5.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Monday, May 13th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.03. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.01 million. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. The firm’s revenue was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.68) earnings per share. As a group, equities research analysts expect that Allogene Therapeutics will post -1.5 earnings per share for the current year.

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).