Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.30.

ALLO has been the subject of several research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $6.00 price objective on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings downgraded shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th.

Allogene Therapeutics Price Performance

ALLO opened at $1.78 on Tuesday. The firm has a market cap of $614.97 million, a price-to-earnings ratio of -2.66 and a beta of 0.47. Allogene Therapeutics has a 52 week low of $1.04 and a 52 week high of $4.46. The business’s 50 day moving average is $1.95 and its two-hundred day moving average is $2.14.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data 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 business had revenue of $4.64 million for the quarter, compared to analysts’ expectations of $0.00 million. Equities analysts expect that Allogene Therapeutics will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allogene Therapeutics news, SVP Earl Douglas sold 29,697 shares of Allogene Therapeutics 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 transaction, the senior vice president directly owned 488,267 shares of the company’s stock, valued at $1,035,126.04. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is currently owned by company insiders.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Allogene Therapeutics in the 2nd quarter worth $62,706,000. Frazier Life Sciences Management L.P. boosted its holdings in Allogene Therapeutics by 491.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock valued at $46,689,000 after purchasing an additional 18,650,000 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Allogene Therapeutics during the 2nd quarter valued at approximately $27,297,000. Walleye Capital LLC acquired a new stake in Allogene Therapeutics during the 2nd quarter valued at approximately $6,797,000. Finally, Bank of America Corp DE acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at approximately $6,630,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

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 the treatment of cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s therapies are designed to use T cells collected from healthy donors, potentially supporting more standardized manufacturing and broader patient access.

The company’s investigational pipeline includes cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A), an anti-CD19 CAR T-cell therapy being evaluated in B-cell malignancies, and ALLO-715, an anti-BCMA CAR T-cell therapy being studied for multiple myeloma.