Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Rating of “Buy” by Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus recommendation of “Buy” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $45.13.

ALLO has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and set a $53.00 price objective on shares of Allogene Therapeutics in a research note on Thursday, July 1st. Oppenheimer reissued a “buy” rating on shares of Allogene Therapeutics in a research note on Monday, April 12th. B. Riley assumed coverage on Allogene Therapeutics in a research note on Friday, May 14th. They issued a “buy” rating and a $52.00 price target for the company. Truist Securities raised Allogene Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $34.00 to $41.00 in a research note on Thursday, May 20th. Finally, Truist raised Allogene Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $34.00 to $41.00 in a research note on Thursday, May 20th.

In other news, General Counsel Veer Bhavnagri sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 18th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the general counsel now directly owns 426,353 shares of the company’s stock, valued at approximately $12,790,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Owen N. Witte sold 9,969 shares of the firm’s stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $25.05, for a total value of $249,723.45. Following the sale, the director now directly owns 236,182 shares of the company’s stock, valued at $5,916,359.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,969 shares of company stock valued at $507,473. Company insiders own 26.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its holdings in Allogene Therapeutics by 172.7% in the 4th quarter. Penserra Capital Management LLC now owns 3,240 shares of the company’s stock valued at $81,000 after buying an additional 2,052 shares during the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Allogene Therapeutics in the 1st quarter worth approximately $127,000. Twin Lakes Capital Management LLC bought a new stake in shares of Allogene Therapeutics in the 1st quarter worth approximately $152,000. Great West Life Assurance Co. Can lifted its position in shares of Allogene Therapeutics by 25.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,549 shares of the company’s stock worth $159,000 after acquiring an additional 935 shares during the period. Finally, Calton & Associates Inc. bought a new stake in shares of Allogene Therapeutics in the 1st quarter worth approximately $214,000. 61.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ALLO stock traded down $0.26 on Friday, hitting $22.39. 5,546 shares of the stock traded hands, compared to its average volume of 1,181,496. Allogene Therapeutics has a 1-year low of $21.32 and a 1-year high of $44.92. The stock’s fifty day moving average is $25.00.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Tuesday, May 4th. The company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.21. The company had revenue of $38.35 million for the quarter, compared to the consensus estimate of $24.50 million. On average, equities research analysts forecast that Allogene Therapeutics will post -1.99 earnings per share for the current fiscal year.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.

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Analyst Recommendations for Allogene Therapeutics (NASDAQ:ALLO)

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