Allogene Therapeutics (NASDAQ:ALLO) Trading Up 5.7%

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price was up 5.7% during trading on Monday . The company traded as high as $2.77 and last traded at $2.76. Approximately 888,844 shares changed hands during trading, a decline of 66% from the average daily volume of 2,600,397 shares. The stock had previously closed at $2.61.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALLO shares. Piper Sandler began coverage on Allogene Therapeutics in a research report on Friday, May 31st. They set an “overweight” rating and a $11.00 price objective for the company. Oppenheimer began coverage on shares of Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a research report on Tuesday, May 14th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Finally, Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.96.

Allogene Therapeutics Stock Up 7.3 %

The stock has a market cap of $585.20 million, a P/E ratio of -1.54 and a beta of 0.85. The company’s 50 day moving average price is $2.58 and its 200-day moving average price is $3.32.

Insider Buying and Selling

In related news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total value of $26,208.00. Following the transaction, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 24.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Allogene Therapeutics by 429.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after purchasing an additional 8,734 shares during the period. Federated Hermes Inc. acquired a new position in Allogene Therapeutics during the 2nd quarter worth approximately $29,000. Phoenix Wealth Advisors acquired a new position in Allogene Therapeutics during the 2nd quarter worth approximately $30,000. Axxcess Wealth Management LLC bought a new position in Allogene Therapeutics in the fourth quarter worth approximately $34,000. Finally, Algert Global LLC acquired a new stake in Allogene Therapeutics in the second quarter valued at approximately $35,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).