Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $8.44

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.5222.

A number of equities analysts recently issued reports on ALLO shares. Citizens Jmp increased their target price on Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 13th. Citigroup reiterated an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday, April 14th. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Finally, JPMorgan Chase & Co. upgraded Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a report on Thursday, April 16th.

Insider Activity

In related news, CEO David D. Chang sold 47,763 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $2.47, for a total value of $117,974.61. Following the transaction, the chief executive officer directly owned 5,150,599 shares in the company, valued at $12,721,979.53. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 72,183 shares of company stock valued at $177,771. 13.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the company. Kestra Private Wealth Services LLC bought a new position in shares of Allogene Therapeutics in the 1st quarter worth $27,000. Bull Harbor Capital LLC bought a new position in Allogene Therapeutics during the 1st quarter valued at $31,000. Krilogy Financial LLC bought a new position in Allogene Therapeutics during the 1st quarter valued at $40,000. Savant Capital LLC bought a new position in Allogene Therapeutics during the 3rd quarter valued at $27,000. Finally, Russell Investments Group Ltd. lifted its stake in Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after acquiring an additional 21,650 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Stock Down 2.6%

Shares of ALLO stock opened at $1.89 on Wednesday. The company has a market cap of $462.71 million, a price-to-earnings ratio of -2.45 and a beta of 0.46. Allogene Therapeutics has a 52 week low of $0.98 and a 52 week high of $4.46. The firm has a 50 day moving average of $2.36 and a 200-day moving average of $1.87.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. Analysts anticipate that Allogene Therapeutics will post -0.7 earnings per share for the current year.

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.