Allogene Therapeutics (NASDAQ:ALLO) Shares Gap Up to $2.23

Allogene Therapeutics, Inc. (NASDAQ:ALLO) shares gapped up prior to trading on Friday . The stock had previously closed at $2.23, but opened at $2.49. Allogene Therapeutics shares last traded at $2.44, with a volume of 54,373 shares changing hands.

Analyst Upgrades and Downgrades

ALLO has been the topic of a number of research analyst reports. HC Wainwright lowered their target price on Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Oppenheimer reduced their price objective on Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. JPMorgan Chase & Co. reduced their price objective on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Piper Sandler began coverage on Allogene Therapeutics in a research report on Friday, May 31st. They issued an “overweight” rating and a $11.00 price objective for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $17.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.95.

Allogene Therapeutics Trading Up 4.5 %

The stock has a fifty day moving average of $2.76 and a two-hundred day moving average of $3.49. The stock has a market capitalization of $532.95 million, a price-to-earnings ratio of -1.42 and a beta of 0.86.

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

Insider Buying and Selling

In related news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Arie Belldegrun acquired 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 cost of $2.90 per share, with a total value of $4,999,997.30. Following the completion of the purchase, the director now directly owns 1,724,137 shares in the company, valued at $4,999,997.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics 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 transaction, the director now owns 255,253 shares in the company, valued at $597,292.02. The disclosure for this sale can be found here. 24.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Allogene Therapeutics by 85.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company’s stock valued at $79,000 after purchasing an additional 8,162 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Allogene Therapeutics in the first quarter valued at approximately $78,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Allogene Therapeutics in the first quarter valued at approximately $1,280,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Allogene Therapeutics by 85.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company’s stock valued at $1,768,000 after purchasing an additional 166,433 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.

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. 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).