Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $9.95

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.95.

Several research analysts have recently commented on ALLO shares. HC Wainwright decreased their price objective on Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Piper Sandler began coverage on Allogene Therapeutics in a research note on Friday, May 31st. They issued an “overweight” rating and a $11.00 price target on the stock. 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. Stifel Nicolaus raised their target price on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a report on Tuesday, May 14th. Finally, Oppenheimer lowered their price target on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st.

Insider Activity

In related news, Director Arie Belldegrun acquired 1,724,137 shares of Allogene Therapeutics stock in a transaction on Thursday, May 16th. The shares were acquired at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the transaction, the director now owns 1,724,137 shares in the company, valued at $4,999,997.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Franz B. Humer sold 11,200 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total value of $26,208.00. Following the completion of the transaction, the director now owns 255,253 shares of the company’s stock, valued at approximately $597,292.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arie Belldegrun purchased 1,724,137 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $4,999,997.30. Following the completion of the transaction, the director now directly owns 1,724,137 shares of the company’s stock, valued at $4,999,997.30. The disclosure for this purchase can be found here. Insiders own 24.30% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Allogene Therapeutics by 0.9% during the 3rd quarter. FMR LLC now owns 25,143,931 shares of the company’s stock valued at $79,706,000 after buying an additional 225,976 shares in the last quarter. Vanguard Group Inc. boosted its stake in Allogene Therapeutics by 41.1% during the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after acquiring an additional 3,086,311 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 during the period. Caxton Associates LP increased its stake in shares of Allogene Therapeutics by 61.4% during the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after purchasing an additional 294,989 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Allogene Therapeutics during the fourth quarter valued at approximately $1,661,000. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $2.33 on Wednesday. The firm has a market cap of $486.97 million, a P/E ratio of -1.30 and a beta of 0.86. Allogene Therapeutics has a 1 year low of $2.18 and a 1 year high of $6.05. The stock has a 50 day simple moving average of $2.65 and a two-hundred day simple moving average of $3.48.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 223,139.98% and a negative return on equity of 50.81%. The firm’s revenue was down 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.68) EPS. On average, equities analysts anticipate that Allogene Therapeutics will post -1.5 earnings per share for the current year.

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).