Allogene Therapeutics (NASDAQ:ALLO) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage issued an outperform rating and a $11.00 target price on the stock.

Other analysts also recently issued research reports about the company. Piper Sandler began coverage on Allogene Therapeutics in a research note on Friday, May 31st. They set an overweight rating and a $11.00 target price on the stock. Stifel Nicolaus lifted their price objective on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the company a hold rating in a research note on Tuesday, May 14th. Canaccord Genuity Group decreased their target price on shares of Allogene Therapeutics from $35.00 to $14.00 and set a buy rating for the company in a research report on Thursday. HC Wainwright lowered their target price on shares of Allogene Therapeutics from $10.00 to $9.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Finally, Truist Financial reaffirmed a buy rating and issued a $17.00 price target on shares of Allogene Therapeutics in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $9.96.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $2.32 on Thursday. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78. The company has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $3.40. The firm has a market capitalization of $484.88 million, a P/E ratio of -1.30 and a beta of 0.85.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.01 million. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 50.81%. Allogene Therapeutics’s quarterly revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.68) EPS. As a group, sell-side analysts forecast that Allogene Therapeutics will post -1.5 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Arie Belldegrun purchased 1,724,137 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average price of $2.90 per share, with a total value of $4,999,997.30. Following the completion of the acquisition, the director now owns 1,724,137 shares of the company’s stock, valued at $4,999,997.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Arie Belldegrun purchased 1,724,137 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average price of $2.90 per share, for a total transaction of $4,999,997.30. Following the transaction, the director now directly owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Franz B. Humer sold 11,200 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $2.34, for a total value of $26,208.00. Following the sale, the director now owns 255,253 shares in the company, valued at approximately $597,292.02. The disclosure for this sale can be found here. 24.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLO. Price T Rowe Associates Inc. MD lifted its position in shares of Allogene Therapeutics by 76.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter valued at $1,284,000. Caxton Associates LP grew its holdings in shares of Allogene Therapeutics by 61.4% during the 4th quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after acquiring an additional 294,989 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Allogene Therapeutics during the 1st quarter valued at $1,280,000. Finally, SG Americas Securities LLC acquired a new position in shares of Allogene Therapeutics in the fourth quarter worth $172,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

About Allogene Therapeutics

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).