Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $9.95

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.40.

Several research firms recently issued reports on ALLO. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday.

Insider Activity

In other news, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics 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 completion of the transaction, the insider now directly owns 250,713 shares in the company, valued at approximately $428,719.23. This trade represents a 5.55 % 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, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics 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 of the company’s stock, valued at $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,710 shares of company stock worth $92,125. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. abrdn plc purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $776,000. Barclays PLC raised its holdings in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock worth $959,000 after acquiring an additional 172,745 shares during the last quarter. Zacks Investment Management purchased a new position in Allogene Therapeutics in the 3rd quarter worth approximately $1,446,000. Geode Capital Management LLC raised its holdings in Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after acquiring an additional 407,070 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Allogene Therapeutics by 788.4% in the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock worth $416,000 after acquiring an additional 173,457 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Trading Up 2.6 %

Shares of NASDAQ:ALLO opened at $1.94 on Friday. The stock’s 50-day moving average price is $1.94 and its 200-day moving average price is $2.31. Allogene Therapeutics has a 12-month low of $1.32 and a 12-month high of $4.74. The stock has a market capitalization of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02.

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

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).