HC Wainwright Cuts Allogene Therapeutics (NASDAQ:ALLO) Price Target to $8.00

Allogene Therapeutics (NASDAQ:ALLO) had its price objective trimmed by HC Wainwright from $9.00 to $8.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Allogene Therapeutics’ Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.14) EPS.

Several other equities analysts have also commented on ALLO. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Friday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.29.

Allogene Therapeutics Stock Down 0.6 %

Shares of NASDAQ ALLO opened at $1.62 on Wednesday. The firm has a market capitalization of $351.97 million, a P/E ratio of -1.04 and a beta of 1.02. The stock’s 50-day simple moving average is $1.89 and its two-hundred day simple moving average is $2.28. Allogene Therapeutics has a twelve month low of $1.32 and a twelve month high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. As a group, research analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, insider Timothy L. Moore sold 14,746 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the completion of the transaction, the insider now owns 250,713 shares of the company’s stock, valued at $428,719.23. This trade represents a 5.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David D. Chang sold 46,668 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the transaction, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,866 shares of company stock worth $194,461 in the last quarter. 24.30% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Cibc World Markets Corp bought a new stake in shares of Allogene Therapeutics in the 4th quarter worth $26,000. PAX Financial Group LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter worth $27,000. RPO LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter worth $31,000. Caption Management LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter worth $32,000. Finally, Syon Capital LLC bought a new stake in shares of Allogene Therapeutics in the fourth quarter worth $39,000. Institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

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).