Allogene Therapeutics (NASDAQ:ALLO) Upgraded by Roth Capital to Buy
Roth Capital upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) from a neutral rating to a buy rating in a research report released on Tuesday morning, BenzingaRatingsTable reports. Roth Capital currently has $60.00 target price on the stock, up from their previous target price of $26.00.
Several other equities analysts have also weighed in on ALLO. HC Wainwright restated a buy rating and set a $42.00 target price (up from $35.00) on shares of Allogene Therapeutics in a report on Wednesday, May 13th. BidaskClub upgraded Allogene Therapeutics from a buy rating to a strong-buy rating in a report on Tuesday, May 5th. ValuEngine upgraded Allogene Therapeutics from a hold rating to a buy rating in a report on Monday, March 30th. Stifel Nicolaus initiated coverage on Allogene Therapeutics in a report on Wednesday, March 4th. They set a hold rating and a $27.00 target price on the stock. Finally, Jefferies Financial Group lifted their price objective on Allogene Therapeutics from $37.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, May 14th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $37.58.
NASDAQ ALLO opened at $54.04 on Tuesday. Allogene Therapeutics has a fifty-two week low of $17.43 and a fifty-two week high of $54.34. The stock’s 50-day moving average is $29.63 and its two-hundred day moving average is $26.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 18.81 and a current ratio of 18.81.
In related news, insider Alison Moore sold 3,750 shares of Allogene Therapeutics stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $19.19, for a total transaction of $71,962.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David D. Chang sold 20,335 shares of Allogene Therapeutics stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $19.31, for a total value of $392,668.85. Following the sale, the chief executive officer now directly owns 2,215,426 shares in the company, valued at $42,779,876.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,535 shares of company stock worth $572,160. 36.50% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC acquired a new stake in Allogene Therapeutics during the fourth quarter worth about $32,000. Stralem & Co. Inc. acquired a new stake in Allogene Therapeutics during the first quarter valued at approximately $32,000. Advisor Group Holdings Inc. acquired a new stake in Allogene Therapeutics during the first quarter valued at approximately $33,000. Quantbot Technologies LP acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $36,000. Finally, Great West Life Assurance Co. Can acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $42,000. 56.09% of the stock is currently owned by institutional investors and hedge funds.
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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.
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