Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $8.30 Consensus PT from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.30.

Several analysts recently weighed in on the stock. Citizens Jmp reiterated a “market outperform” rating and issued a $6.00 price target on shares of Allogene Therapeutics in a 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 Wednesday, August 12th.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO opened at $2.09 on Friday. The stock’s 50-day moving average is $1.99 and its 200 day moving average is $2.15. The company has a market cap of $722.07 million, a PE ratio of -3.12 and a beta of 0.48. Allogene Therapeutics has a 1 year low of $1.04 and a 1 year high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. Analysts expect that Allogene Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Activity

In related news, SVP Earl Martin Douglas sold 29,697 shares of the 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 completion of the transaction, the senior vice president directly owned 488,267 shares of the company’s stock, valued at $1,035,126.04. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing 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. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Allogene Therapeutics

Several large investors have recently bought and sold shares of ALLO. Pallas Capital Advisors LLC purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $25,000. Kestra Private Wealth Services LLC purchased a new position in shares of Allogene Therapeutics in the 1st quarter valued at approximately $27,000. GTS Securities LLC purchased a new position in shares of Allogene Therapeutics in the 2nd quarter valued at approximately $27,000. Russell Investments Group Ltd. boosted its position 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 purchasing an additional 21,650 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 period. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Company Profile

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.