Allogene Therapeutics (NASDAQ:ALLO) Upgraded by Citizens Jmp to Outperform Rating

Citizens Jmp upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) from a market perform rating to an outperform rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $5.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Allogene Therapeutics Stock Up 2.6 %

Allogene Therapeutics stock opened at $1.94 on Friday. The firm’s fifty day moving average is $1.94 and its 200 day moving average is $2.32. Allogene Therapeutics has a 12-month low of $1.32 and a 12-month high of $4.89. The company has a market capitalization of $406.76 million, a PE ratio of -1.24 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. Sell-side analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,710 shares of company stock worth $92,125 in the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors have recently added to or reduced their stakes in ALLO. Lynx1 Capital Management LP grew its position in Allogene Therapeutics by 75.3% during the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock valued at $23,163,000 after buying an additional 4,672,349 shares during the period. Foresite Capital Management VI LLC bought a new position in Allogene Therapeutics during the fourth quarter valued at about $7,345,000. Patient Square Capital LP bought a new position in Allogene Therapeutics during the fourth quarter valued at about $3,174,000. Gilead Sciences Inc. bought a new position in Allogene Therapeutics during the fourth quarter worth about $2,464,000. Finally, Dimensional Fund Advisors LP boosted its position in Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock worth $7,586,000 after purchasing an additional 831,146 shares during the period. Institutional investors own 83.63% of the company’s stock.

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).