Allogene Therapeutics (NASDAQ:ALLO) Earns “Buy” Rating from Canaccord Genuity Group

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research note issued to investors on Friday,Benzinga reports. They currently have a $14.00 price target on the stock.

Other analysts also recently issued reports about the stock. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research note on Friday. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their price target on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.40.

Allogene Therapeutics Stock Performance

NASDAQ ALLO opened at $1.94 on Friday. Allogene Therapeutics has a 52-week low of $1.32 and a 52-week high of $4.74. The company has a market capitalization of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02. The company has a fifty day moving average of $1.94 and a 200-day moving average of $2.31.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. As a group, analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the transaction, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now owns 250,713 shares in the company, valued at approximately $428,719.23. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,710 shares of company stock worth $92,125. Corporate insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Lynx1 Capital Management LP lifted its position in Allogene Therapeutics by 75.3% during the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock valued at $23,163,000 after purchasing an additional 4,672,349 shares during the period. Foresite Capital Management VI LLC bought a new position in Allogene Therapeutics during the fourth quarter valued at approximately $7,345,000. Patient Square Capital LP purchased a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $3,174,000. Gilead Sciences Inc. purchased a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $2,464,000. Finally, Dimensional Fund Advisors LP increased its holdings in Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after buying an additional 831,146 shares during the last quarter. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).