Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Target Price at $9.95

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.95.

ALLO has been the topic of a number of research analyst reports. HC Wainwright cut their price target 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. Stifel Nicolaus raised their target price on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. Oppenheimer cut their target price on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Truist Financial reissued a “buy” rating and set a $17.00 target price on shares of Allogene Therapeutics in a research report on Wednesday, May 15th. Finally, Piper Sandler started coverage on shares of Allogene Therapeutics in a research report on Friday, May 31st. They set an “overweight” rating and a $11.00 target price on the stock.

Insider Buying and Selling

In related news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $2.34, for a total value of $26,208.00. Following the completion of the sale, the director now directly owns 255,253 shares in the company, valued at approximately $597,292.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $2.34, for a total value of $26,208.00. Following the completion of the sale, the director now directly owns 255,253 shares in the company, valued at approximately $597,292.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arie Belldegrun bought 1,724,137 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average price of $2.90 per share, with a total value of $4,999,997.30. Following the completion of the purchase, the director now directly owns 1,724,137 shares in the company, valued at $4,999,997.30. The disclosure for this purchase can be found here. 24.30% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ALLO. Vanguard Group Inc. lifted its stake in Allogene Therapeutics by 41.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock valued at $33,563,000 after acquiring an additional 3,086,311 shares during the period. Exchange Traded Concepts LLC lifted its stake in Allogene Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 36,040 shares of the company’s stock valued at $116,000 after acquiring an additional 9,139 shares during the period. SG Americas Securities LLC acquired a new stake in Allogene Therapeutics during the 4th quarter valued at approximately $172,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Allogene Therapeutics during the 4th quarter valued at approximately $27,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Allogene Therapeutics by 353.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,467 shares of the company’s stock valued at $62,000 after acquiring an additional 15,170 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Trading Up 3.1 %

NASDAQ ALLO opened at $3.00 on Friday. The company’s 50-day moving average price is $2.55 and its 200-day moving average price is $3.44. The stock has a market cap of $627 million, a PE ratio of -1.68 and a beta of 0.85. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly 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. The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.01 million. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 50.81%. The business’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.68) earnings per share. As a group, sell-side analysts forecast that Allogene Therapeutics will post -1.5 earnings per share for the current year.

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).