Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Average Rating of “Moderate Buy” from Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.40.

ALLO has been the topic of a number of recent analyst reports. UBS Group assumed coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target on the stock. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Citigroup upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. Finally, Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, January 9th.

Allogene Therapeutics Trading Down 4.5%

NASDAQ ALLO opened at $2.53 on Friday. Allogene Therapeutics has a 1 year low of $0.86 and a 1 year high of $2.80. The company has a market cap of $568.57 million, a PE ratio of -2.58 and a beta of 0.50. The stock’s 50-day moving average price is $1.76 and its two-hundred day moving average price is $1.44.

Insiders Place Their Bets

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 24,001 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.76, for a total transaction of $42,241.76. Following the completion of the sale, the chief financial officer directly owned 1,252,795 shares in the company, valued at approximately $2,204,919.20. This trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Earl Martin Douglas sold 22,900 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $40,304.00. Following the completion of the transaction, the senior vice president owned 564,948 shares in the company, valued at $994,308.48. This represents a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 215,855 shares of company stock valued at $378,426 in the last 90 days. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Savant Capital LLC acquired a new position in shares of Allogene Therapeutics in the third quarter worth $27,000. Russell Investments Group Ltd. boosted its position in Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Allogene Therapeutics in the third quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its position in Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the last quarter. Finally, Brighton Jones LLC increased its position in Allogene Therapeutics by 81.6% in the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

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.