Allogene Therapeutics (NASDAQ:ALLO) Shares Up 10.3% – Still a Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price traded up 10.3% during trading on Tuesday . The company traded as high as $2.29 and last traded at $2.2950. 5,363,671 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 5,955,742 shares. The stock had previously closed at $2.08.

Analysts Set New Price Targets

ALLO has been the subject of several recent research reports. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, January 9th. Finally, UBS Group began coverage on Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target for the company. Ten analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Allogene Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $8.40.

Allogene Therapeutics Trading Up 10.3%

The stock has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $1.37. The stock has a market cap of $515.76 million, a price-to-earnings ratio of -2.34 and a beta of 0.60.

Insider Activity at Allogene Therapeutics

In other news, SVP Earl Martin Douglas sold 22,900 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $40,304.00. Following the transaction, the senior vice president owned 564,948 shares in the company, valued at approximately $994,308.48. The trade was a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David D. Chang sold 95,269 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.80, for a total value of $171,484.20. Following the sale, the chief executive officer owned 5,185,862 shares in the company, valued at approximately $9,334,551.60. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 215,855 shares of company stock valued at $378,426. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Several hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Allogene Therapeutics by 183.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,688 shares of the company’s stock valued at $81,000 after purchasing an additional 46,398 shares during the last quarter. Aberdeen Group plc lifted its holdings in Allogene Therapeutics by 82.4% in the third quarter. Aberdeen Group plc now owns 1,582,265 shares of the company’s stock valued at $1,962,000 after buying an additional 715,015 shares during the period. Patient Square Capital LP boosted its position in Allogene Therapeutics by 11.3% during the second quarter. Patient Square Capital LP now owns 2,635,000 shares of the company’s stock valued at $2,978,000 after acquiring an additional 266,814 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in Allogene Therapeutics during the 3rd quarter worth about $474,000. Finally, R Squared Ltd bought a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $37,000. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.