Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.5222.

A number of research firms have weighed in on ALLO. HC Wainwright boosted their target price on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allogene Therapeutics in a research note on Friday, May 1st. JPMorgan Chase & Co. raised shares of Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Thursday, April 16th. Argus boosted their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research note on Tuesday, April 14th. Finally, Citizens Jmp boosted their price objective on shares of Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 14th.

Allogene Therapeutics Stock Performance

NASDAQ ALLO opened at $2.00 on Wednesday. The firm’s fifty day moving average price is $2.37 and its two-hundred day moving average price is $1.86. The stock has a market cap of $489.64 million, a PE ratio of -2.60 and a beta of 0.46. Allogene Therapeutics has a fifty-two week low of $0.98 and a fifty-two week high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. As a group, sell-side analysts predict that Allogene Therapeutics will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Allogene Therapeutics

In related news, CEO David D. Chang sold 47,763 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $2.47, for a total value of $117,974.61. Following the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 72,183 shares of company stock valued at $177,771 over the last quarter. Insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Allogene Therapeutics by 9.2% in the third quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock worth $11,186,000 after purchasing an additional 761,642 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Allogene Therapeutics by 15.0% in the fourth quarter. Primecap Management Co. CA now owns 8,139,840 shares of the company’s stock worth $11,152,000 after purchasing an additional 1,060,532 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares during the last quarter. Patient Square Capital LP grew its stake in shares of Allogene Therapeutics by 66.5% in the fourth quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock worth $6,800,000 after purchasing an additional 1,982,360 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Allogene Therapeutics by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 3,932,910 shares of the company’s stock valued at $5,389,000 after buying an additional 99,025 shares during the period. Institutional investors 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.