Allogene Therapeutics (NASDAQ:ALLO) Trading Up 6.5%

Allogene Therapeutics Inc (NASDAQ:ALLO) shares were up 6.5% during mid-day trading on Monday . The company traded as high as $32.05 and last traded at $31.99, approximately 525,799 shares were traded during mid-day trading. An increase of 27% from the average daily volume of 413,771 shares. The stock had previously closed at $30.04.

A number of equities analysts recently issued reports on ALLO shares. Roth Capital started coverage on Allogene Therapeutics in a report on Wednesday, June 5th. They issued a “neutral” rating and a $26.00 price target for the company. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $29.00 price target on shares of Allogene Therapeutics in a report on Sunday, August 11th. BTIG Research started coverage on Allogene Therapeutics in a report on Friday, August 9th. They issued a “buy” rating and a $37.00 price target for the company. Zacks Investment Research downgraded Allogene Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Guggenheim started coverage on Allogene Therapeutics in a report on Thursday, May 30th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $36.10.

The firm has a market capitalization of $3.89 billion and a price-to-earnings ratio of -4.86. The company has a fifty day moving average price of $28.38 and a two-hundred day moving average price of $27.96. The company has a quick ratio of 13.46, a current ratio of 13.46 and a debt-to-equity ratio of 0.05.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.06. On average, equities analysts anticipate that Allogene Therapeutics Inc will post -1.94 earnings per share for the current fiscal year.

In other news, insider Alison Moore sold 48,827 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $29.44, for a total value of $1,437,466.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 36.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Allogene Therapeutics by 0.4% in the first quarter. First Trust Advisors LP now owns 101,816 shares of the company’s stock valued at $2,944,000 after acquiring an additional 375 shares during the period. Rhumbline Advisers boosted its holdings in shares of Allogene Therapeutics by 1.8% in the first quarter. Rhumbline Advisers now owns 31,348 shares of the company’s stock valued at $906,000 after acquiring an additional 560 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Allogene Therapeutics by 2.4% in the first quarter. TD Asset Management Inc. now owns 25,643 shares of the company’s stock valued at $741,000 after acquiring an additional 600 shares during the period. Morgan Stanley boosted its holdings in shares of Allogene Therapeutics by 7.7% in the second quarter. Morgan Stanley now owns 9,707 shares of the company’s stock valued at $260,000 after acquiring an additional 691 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Allogene Therapeutics by 1.1% in the second quarter. UBS Asset Management Americas Inc. now owns 200,267 shares of the company’s stock valued at $5,377,000 after acquiring an additional 2,142 shares during the period. 55.97% of the stock is owned by institutional investors and hedge funds.

About Allogene Therapeutics (NASDAQ:ALLO)

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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