Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Average Recommendation of “Moderate Buy” by Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $9.73.

ALLO has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a research note on Friday, November 8th. Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th.

Insider Buying and Selling

In other news, insider Timothy L. Moore sold 14,746 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This trade represents a 5.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now directly owns 488,054 shares of the company’s stock, valued at $868,736.12. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,067 shares of company stock worth $131,959 in the last quarter. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently modified their holdings of ALLO. Zacks Investment Management bought a new position in Allogene Therapeutics during the third quarter worth $1,446,000. Dimensional Fund Advisors LP grew its position in Allogene Therapeutics by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after purchasing an additional 507,021 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after purchasing an additional 407,070 shares during the period. abrdn plc acquired a new position in shares of Allogene Therapeutics during the fourth quarter valued at about $776,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Allogene Therapeutics by 70.3% in the second quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after buying an additional 198,231 shares during the period. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.48 on Thursday. The company has a market capitalization of $310.31 million, a price-to-earnings ratio of -0.95 and a beta of 0.83. The business’s 50-day moving average is $1.99 and its 200-day moving average is $2.41. Allogene Therapeutics has a fifty-two week low of $1.47 and a fifty-two week high of $5.78.

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).