Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) PT at $9.73

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.73.

ALLO has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Piper Sandler dropped their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a report on Friday, November 8th.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.43 on Thursday. The company has a market capitalization of $299.83 million, a price-to-earnings ratio of -0.92 and a beta of 0.83. Allogene Therapeutics has a one year low of $1.32 and a one year high of $5.78. The stock has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $2.39.

Insider Activity at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now directly owns 488,054 shares in the company, valued at $868,736.12. The trade was a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,067 shares of company stock valued at $131,959 over the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after buying an additional 507,021 shares during the period. Squarepoint Ops LLC acquired a new position in Allogene Therapeutics in the 2nd quarter worth approximately $295,000. AQR Capital Management LLC purchased a new position in Allogene Therapeutics during the 2nd quarter worth approximately $64,000. The Manufacturers Life Insurance Company grew its position in Allogene Therapeutics by 70.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock worth $1,119,000 after purchasing an additional 198,231 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Allogene Therapeutics during the 2nd quarter valued at $35,000. 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).