Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.96 Average Price Target from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $9.96.

A number of equities research analysts have recently weighed in on ALLO shares. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a research note on Thursday, August 15th. Canaccord Genuity Group dropped their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup raised their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Oppenheimer began coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price target for the company. Finally, Truist Financial reissued a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th.

Insider Activity

In related news, Director Franz B. Humer sold 11,200 shares of the stock in a transaction dated 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 transaction, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $18,675,000 after purchasing an additional 1,806,147 shares during the period. Affinity Asset Advisors LLC purchased a new position in Allogene Therapeutics during the fourth quarter valued at $1,284,000. Caxton Associates LP boosted its holdings in shares of Allogene Therapeutics by 61.4% during the 4th quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after buying an additional 294,989 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Allogene Therapeutics in the 1st quarter worth about $1,280,000. Finally, Cerity Partners LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter worth about $1,661,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Up 3.8 %

NASDAQ ALLO opened at $2.74 on Thursday. The company has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $3.35. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The firm has a market cap of $572.66 million, a price-to-earnings ratio of -1.53 and a beta of 0.85.

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).