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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.5222.

Several research firms have recently commented on ALLO. Truist Financial upgraded Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Robert W. Baird lifted their target price on Allogene Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Sanford C. Bernstein lifted their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allogene Therapeutics in a report on Friday, May 1st.

Allogene Therapeutics Stock Down 7.8%

ALLO opened at $1.88 on Friday. Allogene Therapeutics has a 52 week low of $0.98 and a 52 week high of $4.46. The business has a fifty day simple moving average of $2.28 and a 200-day simple moving average of $1.94. The firm has a market cap of $648.88 million, a P/E ratio of -2.44 and a beta of 0.46.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. Sell-side analysts expect that Allogene Therapeutics will post -0.72 earnings per share for the current year.

Insider Transactions at Allogene Therapeutics

In related news, CEO David D. Chang sold 47,763 shares of Allogene Therapeutics stock in a transaction on Monday, March 16th. The stock was sold at an average price of $2.47, for a total value of $117,974.61. Following the completion of the transaction, the chief executive officer directly owned 5,150,599 shares in the company, valued at approximately $12,721,979.53. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 65,051 shares of company stock valued at $159,228 in the last ninety days. Company insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC purchased a new position in Allogene Therapeutics in the first quarter valued at $27,000. Bull Harbor Capital LLC purchased a new stake in Allogene Therapeutics during the 1st quarter worth about $31,000. Krilogy Financial LLC purchased a new stake in Allogene Therapeutics during the 1st quarter worth about $40,000. Essential Partners LLC lifted its holdings in Allogene Therapeutics by 525.9% during the 1st quarter. Essential Partners LLC now owns 19,410 shares of the company’s stock worth $47,000 after buying an additional 16,309 shares during the last quarter. Finally, Savant Capital LLC purchased a new stake in Allogene Therapeutics during the 3rd quarter worth about $27,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.