Allogene Therapeutics (NASDAQ:ALLO) Shares Gap Up – Time to Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.04, but opened at $2.17. Allogene Therapeutics shares last traded at $2.99, with a volume of 10,832,173 shares traded.

Analysts Set New Price Targets

ALLO has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Friday, November 8th. Finally, Piper Sandler dropped their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.73.

Allogene Therapeutics Trading Down 13.1 %

The company has a market capitalization of $473.85 million, a price-to-earnings ratio of -1.45 and a beta of 0.83. The firm’s 50 day moving average price is $1.95 and its two-hundred day moving average price is $2.37.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now owns 250,713 shares in the company, valued at $428,719.23. This trade represents a 5.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,067 shares of company stock worth $131,959. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALLO. Cibc World Markets Corp bought a new position in Allogene Therapeutics during the 4th quarter worth $26,000. PAX Financial Group LLC bought a new position in Allogene Therapeutics during the 4th quarter worth $27,000. RPO LLC bought a new position in Allogene Therapeutics during the 4th quarter worth $31,000. Caption Management LLC bought a new position in Allogene Therapeutics during the 4th quarter worth $32,000. Finally, Private Advisor Group LLC bought a new position in Allogene Therapeutics during the 3rd quarter worth $34,000. Institutional investors own 83.63% of the company’s stock.

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).