Allogene Therapeutics (NASDAQ:ALLO) Earns Outperform Rating from Analysts at Oppenheimer

Equities research analysts at Oppenheimer started coverage on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note issued to investors on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $11.00 price target on the stock. Oppenheimer’s target price points to a potential upside of 374.14% from the company’s previous close.

ALLO has been the subject of a number of other reports. Stifel Nicolaus increased their target price on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a report on Tuesday, May 14th. Piper Sandler initiated coverage on Allogene Therapeutics in a research report on Friday, May 31st. They set an “overweight” rating and a $11.00 target price on the stock. Canaccord Genuity Group lowered their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Allogene Therapeutics in a research note on Wednesday, May 15th. Finally, HC Wainwright lowered their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded down $0.04 during trading hours on Thursday, reaching $2.32. 1,881,134 shares of the company’s stock were exchanged, compared to its average volume of 2,674,661. The company’s 50 day moving average is $2.57 and its two-hundred day moving average is $3.40. The company has a market cap of $484.88 million, a P/E ratio of -1.30 and a beta of 0.85. Allogene Therapeutics has a 1 year low of $2.01 and a 1 year high of $5.78.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.01 million. During the same quarter in the prior year, the business posted ($0.68) earnings per share. Allogene Therapeutics’s revenue was down 26.7% compared to the same quarter last year. As a group, analysts predict that Allogene Therapeutics will post -1.5 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Allogene Therapeutics by 41.1% during the 3rd 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 during the period. Primecap Management Co. CA boosted its position in shares of Allogene Therapeutics by 4.1% in the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after buying an additional 221,840 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Allogene Therapeutics by 76.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after buying an additional 1,806,147 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after buying an additional 507,021 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Allogene Therapeutics by 340.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after acquiring an additional 1,351,055 shares in the last quarter. 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).