Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $8.40.

ALLO has been the subject of a number of research analyst reports. UBS Group began coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 target price for the company. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research report on Friday, January 9th. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd.

Insider Buying and Selling at Allogene Therapeutics

In other news, CEO David D. Chang sold 95,269 shares of Allogene Therapeutics stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.80, for a total transaction of $171,484.20. Following the completion of the transaction, the chief executive officer directly owned 5,185,862 shares in the company, valued at approximately $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Geoffrey M. Parker sold 24,001 shares of the company’s stock in a transaction that occurred 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 owned 1,252,795 shares in the company, valued at $2,204,919.20. The trade was a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,987 shares of company stock worth $396,969 over the last three months. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the stock. Savant Capital LLC purchased a new stake in Allogene Therapeutics during the 3rd quarter valued at about $27,000. Russell Investments Group Ltd. grew its holdings in shares of Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after buying an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after buying an additional 23,599 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Allogene Therapeutics during the third quarter valued at approximately $30,000. Finally, Brighton Jones LLC raised its holdings in Allogene Therapeutics by 81.6% in the 3rd 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 Price Performance

Shares of ALLO opened at $2.31 on Friday. Allogene Therapeutics has a one year low of $0.86 and a one year high of $2.80. The company has a 50-day simple moving average of $1.80 and a two-hundred day simple moving average of $1.45. The firm has a market capitalization of $519.13 million, a PE ratio of -2.36 and a beta of 0.50.

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.