Allogene Therapeutics (NASDAQ:ALLO) Stock Price Up 7.4% – Still a Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO) traded up 7.4% on Monday . The stock traded as high as $2.49 and last traded at $2.47. 2,212,666 shares traded hands during trading, a decline of 62% from the average session volume of 5,779,469 shares. The stock had previously closed at $2.30.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALLO shares. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. UBS Group started coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price objective on the stock. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, January 9th. Finally, Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.40.

Allogene Therapeutics Price Performance

The firm’s fifty day moving average price is $1.82 and its 200-day moving average price is $1.46. The company has a market capitalization of $538.00 million, a price-to-earnings ratio of -2.43 and a beta of 0.50.

Insider Transactions at Allogene Therapeutics

In other news, EVP Zachary Roberts sold 35,700 shares of Allogene Therapeutics stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.77, for a total transaction of $63,189.00. Following the sale, the executive vice president directly owned 581,166 shares of the company’s stock, valued at approximately $1,028,663.82. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David D. Chang sold 95,269 shares of Allogene Therapeutics stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.80, for a total value of $171,484.20. Following the sale, the chief executive officer directly owned 5,185,862 shares in the company, valued at $9,334,551.60. The trade was a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 222,987 shares of company stock worth $396,969. 13.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Savant Capital LLC bought a new position in Allogene Therapeutics in the 3rd quarter valued at approximately $27,000. Russell Investments Group Ltd. grew its holdings in Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after acquiring an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after acquiring an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Allogene Therapeutics in the 3rd quarter valued at approximately $30,000. Finally, Brighton Jones LLC raised its stake in shares of Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after acquiring an additional 11,311 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.