Allogene Therapeutics, Inc. (ALLO) – What Are Investment Firms Saying About This Stock?

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $8.30.

A number of brokerages have recently commented on ALLO. Weiss Ratings downgraded Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. William Blair upgraded Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $6.00 target price on shares of Allogene Therapeutics in a research report on Monday, August 17th.

Insider Transactions at Allogene Therapeutics

In related news, SVP Earl Douglas sold 29,697 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares of the company’s stock, valued at approximately $1,035,126.04. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Allogene Therapeutics in the second quarter worth $62,706,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Allogene Therapeutics by 491.2% during the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock worth $46,689,000 after purchasing an additional 18,650,000 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Allogene Therapeutics during the second quarter worth $27,297,000. Walleye Capital LLC bought a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $6,797,000. Finally, Bank of America Corp DE bought a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $6,630,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.30 on Friday. The business’s fifty day moving average price is $1.81 and its two-hundred day moving average price is $2.01. The stock has a market cap of $449.14 million, a PE ratio of -1.94 and a beta of 0.56. Allogene Therapeutics has a one year low of $1.04 and a one year high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analysts’ expectations of $0.00 million. As a group, equities research analysts predict that Allogene Therapeutics will post -0.59 earnings per share for the current fiscal year.

About Allogene Therapeutics

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing “off-the-shelf” allogeneic CAR T-cell therapies for cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient’s own T cells, Allogene’s products are made from T cells collected from healthy donors and engineered to recognize specific cancer targets. The company uses gene-editing and other technologies intended to support scalable manufacturing and potentially broaden patient access to cell therapy.

Allogene’s pipeline has included investigational treatments for blood cancers and solid tumors.