Allogene Therapeutics’ (ALLO) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

ALLO has been the topic of a number of other research reports. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Finally, Piper Sandler cut their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

Allogene Therapeutics Stock Up 2.6 %

NASDAQ:ALLO opened at $1.94 on Friday. Allogene Therapeutics has a 52 week low of $1.32 and a 52 week high of $4.89. The stock has a market capitalization of $406.76 million, a price-to-earnings ratio of -1.24 and a beta of 1.02. The firm has a 50 day moving average of $1.94 and a 200 day moving average of $2.32.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. As a group, analysts expect that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 250,713 shares in the company, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,710 shares of company stock worth $92,125. 24.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALLO. The Manufacturers Life Insurance Company lifted its stake in shares of Allogene Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock worth $1,361,000 after buying an additional 5,642 shares in the last quarter. Invesco Ltd. increased its position in Allogene Therapeutics by 7.0% during the fourth quarter. Invesco Ltd. now owns 127,486 shares of the company’s stock worth $272,000 after purchasing an additional 8,359 shares during the last quarter. ProShare Advisors LLC increased its position in Allogene Therapeutics by 25.6% during the fourth quarter. ProShare Advisors LLC now owns 46,082 shares of the company’s stock worth $98,000 after purchasing an additional 9,388 shares during the last quarter. Nordea Investment Management AB increased its position in Allogene Therapeutics by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock worth $986,000 after purchasing an additional 9,635 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Allogene Therapeutics by 28.9% during the fourth quarter. Teacher Retirement System of Texas now owns 43,877 shares of the company’s stock worth $93,000 after purchasing an additional 9,839 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

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).