Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) PT at $8.52

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.5222.

A number of equities research analysts recently commented on the company. Piper Sandler boosted their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. HC Wainwright boosted their target price on Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allogene Therapeutics in a research report on Friday, May 1st. Robert W. Baird boosted their target price on Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group boosted their price objective on Allogene Therapeutics from $6.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 13th.

Allogene Therapeutics Trading Up 1.1%

NASDAQ:ALLO opened at $1.90 on Friday. The company has a market capitalization of $655.79 million, a P/E ratio of -2.47 and a beta of 0.46. Allogene Therapeutics has a 12 month low of $0.98 and a 12 month high of $4.46. The business’s 50-day moving average is $2.22 and its 200 day moving average is $1.96.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. On average, research analysts forecast that Allogene Therapeutics will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Allogene Therapeutics news, CEO David D. Chang sold 47,763 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $2.47, for a total transaction of $117,974.61. Following the sale, the chief executive officer directly 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 legal filing with the SEC, which is available through this link. Insiders sold 65,051 shares of company stock worth $159,228 over the last quarter. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Allogene Therapeutics by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock valued at $11,186,000 after buying an additional 761,642 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Allogene Therapeutics by 15.0% during the fourth quarter. Primecap Management Co. CA now owns 8,139,840 shares of the company’s stock valued at $11,152,000 after buying 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% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying 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% during the fourth quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after buying an additional 1,982,360 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Allogene Therapeutics by 2.6% during 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 last quarter. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

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.