Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.29.

Several equities research analysts recently weighed in on the stock. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research report on Friday, March 14th. HC Wainwright reduced their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th.

Allogene Therapeutics Trading Up 0.6 %

Allogene Therapeutics stock opened at $1.70 on Friday. Allogene Therapeutics has a 12 month low of $1.23 and a 12 month high of $3.78. The business’s fifty day simple moving average is $1.64 and its two-hundred day simple moving average is $2.02. The company has a market capitalization of $369.35 million, a price-to-earnings ratio of -1.09 and a beta of 0.99.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. On average, equities research analysts predict that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling at Allogene Therapeutics

In related news, insider Timothy L. Moore sold 14,746 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the sale, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,268 shares of company stock worth $159,584 in the last three months. 24.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. abrdn plc purchased a new stake in Allogene Therapeutics in the fourth quarter worth about $776,000. Barclays PLC increased its holdings in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock worth $959,000 after acquiring an additional 172,745 shares in the last quarter. Vontobel Holding Ltd. raised its stake in Allogene Therapeutics by 788.4% during the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock worth $416,000 after acquiring an additional 173,457 shares during the period. Gilead Sciences Inc. purchased a new position in Allogene Therapeutics during the fourth quarter valued at approximately $2,464,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Allogene Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company’s stock worth $2,532,000 after purchasing an additional 9,990 shares during the period. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

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).