Allogene Therapeutics (NASDAQ:ALLO) Trading 4.4% Higher – Still a Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price traded up 4.4% on Tuesday . The stock traded as high as $1.48 and last traded at $1.41. 5,208,813 shares were traded during mid-day trading, an increase of 111% from the average session volume of 2,469,372 shares. The stock had previously closed at $1.35.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALLO. Wall Street Zen raised shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.44.

Allogene Therapeutics Stock Performance

The stock has a 50 day moving average of $1.34 and a 200 day moving average of $1.26. The stock has a market capitalization of $316.87 million, a P/E ratio of -1.44 and a beta of 0.51.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. On average, research analysts anticipate that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of Allogene Therapeutics stock in a transaction that occurred on Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total transaction of $46,297.44. Following the transaction, the chief financial officer directly owned 1,276,796 shares in the company, valued at approximately $1,608,762.96. The trade was a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position 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 buying an additional 3,747,397 shares during the last quarter. Millennium Management LLC increased its stake in Allogene Therapeutics by 125.6% during the third quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after acquiring an additional 1,887,302 shares during the period. Two Sigma Investments LP raised its stake in shares of Allogene Therapeutics by 109.7% in the third quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after purchasing an additional 1,770,419 shares in the last quarter. UBS Group AG lifted its holdings in shares of Allogene Therapeutics by 75.1% during the 3rd quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock worth $4,428,000 after acquiring an additional 1,532,238 shares during the period. Finally, Primecap Management Co. CA lifted its stake in Allogene Therapeutics by 23.8% during the third quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after purchasing an additional 1,360,168 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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.