Allogene Therapeutics, Inc. (ALLO) – What Are Researchers Thinking About This Stock?

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.30.

ALLO has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Allogene Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Citizens Jmp reissued a “market outperform” rating and set a $6.00 price target on shares of Allogene Therapeutics in a research report on Monday, August 17th. Weiss Ratings lowered shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, William Blair raised shares of Allogene Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd.

Allogene Therapeutics Price Performance

Shares of Allogene Therapeutics stock opened at $0.93 on Wednesday. Allogene Therapeutics has a one year low of $0.89 and a one year high of $4.46. The business’s 50 day simple moving average is $1.48 and its two-hundred day simple moving average is $1.95. The stock has a market capitalization of $322.88 million, a P/E ratio of -1.48 and a beta of 0.76.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). Sell-side analysts expect that Allogene Therapeutics will post -0.59 earnings per share for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In related news, CFO Geoffrey M. Parker sold 36,342 shares of the business’s stock in a transaction dated Wednesday, October 21st. The stock was sold at an average price of $1.34, for a total transaction of $48,698.28. Following the transaction, the chief financial officer owned 1,045,877 shares in the company, valued at $1,401,475.18. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Earl Douglas sold 29,697 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $2.12, for a total value of $62,957.64. Following the transaction, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This represents a 5.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLO. BlackRock Inc. purchased a new position in Allogene Therapeutics during the 2nd quarter valued at $62,706,000. Frazier Life Sciences Management L.P. raised its holdings in Allogene Therapeutics by 491.2% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock worth $46,689,000 after purchasing an additional 18,650,000 shares in the last quarter. Primecap Management Co. CA bought a new position in Allogene Therapeutics in the 2nd quarter worth $27,297,000. Candriam S.C.A. lifted its position in shares of Allogene Therapeutics by 25.1% in the 3rd quarter. Candriam S.C.A. now owns 5,422,820 shares of the company’s stock worth $8,708,000 after purchasing an additional 1,086,524 shares during the period. Finally, Aberdeen Group plc lifted its position in shares of Allogene Therapeutics by 5.2% in the 3rd quarter. Aberdeen Group plc now owns 5,259,681 shares of the company’s stock worth $8,415,000 after purchasing an additional 257,929 shares during the period. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc. is a clinical-stage biotechnology company developing allogeneic cell therapies for cancer. Its approach uses T cells from healthy donors to create potential off-the-shelf CAR T treatments, which are designed to be available without collecting and modifying each patient’s own cells. The company’s investigational programs include cema-cel, a CAR T candidate being studied for B-cell non-Hodgkin lymphomas, and ALLO-316, a candidate targeting CD70 that is being evaluated for kidney cancer.