Allogene Therapeutics’ (ALLO) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $9.00 target price on the stock.

Several other equities analysts have also weighed in on ALLO. Truist Financial reaffirmed a buy rating and set a $14.00 target price (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Oppenheimer initiated coverage on shares of Allogene Therapeutics in a research report on Thursday, August 8th. They issued an outperform rating and a $11.00 price objective for the company. Citigroup raised their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the company a buy rating in a research report on Friday, August 9th. Piper Sandler began coverage on Allogene Therapeutics in a report on Friday, May 31st. They issued an overweight rating and a $11.00 price target for the company. Finally, Canaccord Genuity Group decreased their target price on Allogene Therapeutics from $35.00 to $14.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Allogene Therapeutics currently has a consensus rating of Moderate Buy and a consensus target price of $9.96.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $2.29 on Thursday. The company has a market capitalization of $478.61 million, a P/E ratio of -1.28 and a beta of 0.85. The business’s 50-day moving average is $2.56 and its two-hundred day moving average is $3.36. Allogene Therapeutics has a fifty-two week low of $2.01 and a fifty-two week high of $5.78.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, Director Franz B. Humer sold 11,200 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the transaction, the director now owns 255,253 shares of the company’s stock, valued at $597,292.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.30% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Several institutional investors have recently made changes to their positions in ALLO. Perceptive Advisors LLC acquired a new stake in Allogene Therapeutics during the second quarter worth $6,349,000. Algert Global LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter worth approximately $35,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Allogene Therapeutics by 46.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 418,699 shares of the company’s stock worth $976,000 after purchasing an additional 132,291 shares during the period. Lynx1 Capital Management LP acquired a new stake in Allogene Therapeutics in the 2nd quarter valued at approximately $5,192,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Allogene Therapeutics by 70.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after purchasing an additional 198,231 shares during the last quarter. Hedge funds and other 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).