Allogene Therapeutics (NASDAQ:ALLO) Earns Outperform Rating from Royal Bank of Canada

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $10.00 price target on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 415.46% from the company’s current price.

ALLO has been the subject of several other reports. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research note on Friday. Piper Sandler cut their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Allogene Therapeutics Trading Up 2.6 %

Shares of NASDAQ:ALLO opened at $1.94 on Friday. The company has a 50 day moving average of $1.94 and a 200-day moving average of $2.31. The firm has a market cap of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02. Allogene Therapeutics has a twelve month low of $1.32 and a twelve month high of $4.74.

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

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the transaction, the insider now owns 250,713 shares in the company, valued at approximately $428,719.23. This represents a 5.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Zachary Roberts sold 27,199 shares of the company’s 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 completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,710 shares of company stock worth $92,125. 24.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $26,000. PAX Financial Group LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $27,000. RPO LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $31,000. Caption Management LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $32,000. Finally, Syon Capital LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth $39,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

About Allogene Therapeutics

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).