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

by · The Cerbat Gem

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.40.

Several research firms have commented on ALLO. UBS Group initiated coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a report on Friday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th.

Check Out Our Latest Analysis on ALLO

Allogene Therapeutics Stock Down 2.3%

Shares of NASDAQ ALLO opened at $1.67 on Thursday. Allogene Therapeutics has a 52 week low of $0.86 and a 52 week high of $3.78. The business’s 50 day moving average price is $1.37 and its 200 day moving average price is $1.27. The firm has a market cap of $375.30 million, a P/E ratio of -1.70 and a beta of 0.51.

Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.04. As a group, research analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of Allogene Therapeutics stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total value of $46,297.44. Following the completion of the transaction, the chief financial officer owned 1,276,796 shares of the company’s stock, valued at approximately $1,608,762.96. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Allogene Therapeutics by 27.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock worth $50,000 after acquiring an additional 8,519 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Allogene Therapeutics by 29.6% during the second quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock worth $50,000 after purchasing an additional 10,059 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after buying an additional 11,311 shares during the period. Zacks Investment Management raised its holdings in shares of Allogene Therapeutics by 2.7% in the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock valued at $652,000 after buying an additional 13,831 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Allogene Therapeutics by 19.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 85,720 shares of the company’s stock valued at $106,000 after acquiring an additional 14,032 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

(Get Free Report)

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.

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