Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $8.40 Average PT from Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.40.

A number of equities analysts have recently weighed in on ALLO shares. UBS Group started coverage on Allogene Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $8.00 target price on the stock. 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 report on Friday, January 9th. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th.

Insider Buying and Selling

In other news, SVP Earl Martin Douglas sold 22,900 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $40,304.00. Following the sale, the senior vice president owned 564,948 shares in the company, valued at $994,308.48. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Geoffrey M. Parker sold 24,001 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total value of $42,241.76. Following the completion of the sale, the chief financial officer directly owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. The trade was a 1.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 215,855 shares of company stock valued at $378,426. 13.20% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Savant Capital LLC bought a new stake in shares of Allogene Therapeutics in the third quarter worth about $27,000. Russell Investments Group Ltd. grew its holdings in shares of Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Allogene Therapeutics by 5,267.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Allogene Therapeutics in the 3rd quarter worth about $30,000. Finally, Brighton Jones LLC increased 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 worth $31,000 after acquiring an additional 11,311 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Up 3.7%

ALLO opened at $1.69 on Monday. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78. The company has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.32. The stock has a market capitalization of $379.79 million, a price-to-earnings ratio of -1.72 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. Sell-side analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

About Allogene Therapeutics

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.