Allogene Therapeutics, Inc. (ALLO) – What Are Brokerages Saying About This Stock?

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.30.

ALLO has been the subject of several recent analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings downgraded Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. Finally, William Blair raised Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd.

Insider Activity at Allogene Therapeutics

In related news, SVP Earl Douglas sold 29,697 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares in the company, valued at $1,035,126.04. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Allogene Therapeutics during the 2nd quarter worth approximately $62,706,000. Frazier Life Sciences Management L.P. raised its position in shares of Allogene Therapeutics by 491.2% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock valued at $46,689,000 after buying an additional 18,650,000 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Allogene Therapeutics during the second quarter valued at about $27,297,000. Candriam S.C.A. lifted its stake in Allogene Therapeutics by 30.0% during the first quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock worth $7,313,000 after purchasing an additional 691,674 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in Allogene Therapeutics during the 2nd quarter valued at about $6,797,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Down 2.2%

Shares of NASDAQ ALLO traded down $0.03 during trading on Friday, reaching $1.31. 4,918,663 shares of the company traded hands, compared to its average volume of 6,138,566. Allogene Therapeutics has a 52-week low of $1.04 and a 52-week high of $4.46. The stock has a market capitalization of $452.59 million, a PE ratio of -1.96 and a beta of 0.56. The firm has a 50 day simple moving average of $1.78 and a 200-day simple moving average of $2.00.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. As a group, research analysts predict that Allogene Therapeutics will post -0.59 EPS for the current year.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing “off-the-shelf” allogeneic CAR T-cell therapies for cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient’s own T cells, Allogene’s products are made from T cells collected from healthy donors and engineered to recognize specific cancer targets. The company uses gene-editing and other technologies intended to support scalable manufacturing and potentially broaden patient access to cell therapy.

Allogene’s pipeline has included investigational treatments for blood cancers and solid tumors.