Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) PT at $8.44

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.4444.

Several research analysts have commented on the stock. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research report on Monday, August 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Allogene Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, October 12th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th.

Insider Buying and Selling at Allogene Therapeutics

In other news, CFO Geoffrey M. Parker sold 36,744 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total value of $46,297.44. Following the completion of the sale, the chief financial officer directly owned 1,276,796 shares of the company’s stock, valued at approximately $1,608,762.96. This represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in ALLO. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Allogene Therapeutics in the 1st quarter worth approximately $28,000. Brighton Jones LLC lifted its stake in Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Allogene Therapeutics by 142.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock valued at $35,000 after purchasing an additional 18,314 shares during the last quarter. R Squared Ltd acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $37,000. Finally, Engineers Gate Manager LP acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $37,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Trading Up 2.5%

NASDAQ ALLO opened at $1.23 on Friday. Allogene Therapeutics has a 52 week low of $0.86 and a 52 week high of $3.78. The stock has a market cap of $272.91 million, a price-to-earnings ratio of -1.11 and a beta of 0.43. The company has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $1.25.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. As a group, equities research analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

About Allogene Therapeutics

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).