Allogene Therapeutics (NASDAQ:ALLO) Stock Price Up 9.4%

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price was up 9.4% during mid-day trading on Thursday . The stock traded as high as $2.46 and last traded at $2.44. Approximately 3,428,183 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 2,602,331 shares. The stock had previously closed at $2.23.

Wall Street Analysts Forecast Growth

ALLO has been the topic of several research reports. Oppenheimer dropped their price target on Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. HC Wainwright dropped their target price on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 15th. Piper Sandler initiated coverage on shares of Allogene Therapeutics in a research note on Friday, May 31st. They set an “overweight” rating and a $11.00 price objective on the stock. Finally, Truist Financial restated a “buy” rating and issued a $17.00 price objective on shares of Allogene Therapeutics in a report on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.95.

Allogene Therapeutics Trading Up 8.5 %

The company has a market capitalization of $505.78 million, a PE ratio of -1.34 and a beta of 0.86. The business’s fifty day moving average is $2.82 and its two-hundred day moving average is $3.49.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. During the same quarter last year, the company earned ($0.68) EPS. The company’s quarterly revenue was down 26.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Allogene Therapeutics, Inc. will post -1.5 EPS for the current year.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, Director Franz B. Humer sold 11,200 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Franz B. Humer sold 11,200 shares of the firm’s stock in a transaction 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 approximately $597,292.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arie Belldegrun purchased 1,724,137 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the acquisition, the director now directly owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The disclosure for this purchase can be found here. Company insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Allogene Therapeutics by 41.1% in the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after purchasing an additional 3,086,311 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after buying an additional 1,806,147 shares during the period. Cerity Partners LLC purchased a new stake in Allogene Therapeutics in the 4th quarter worth $1,661,000. Caxton Associates LP raised its holdings in Allogene Therapeutics by 590.0% during the third quarter. Caxton Associates LP now owns 480,104 shares of the company’s stock valued at $1,522,000 after acquiring an additional 410,520 shares during the period. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $1,284,000. 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).