Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.95 Consensus Price Target from Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.95.

ALLO has been the topic of several research reports. HC Wainwright lowered their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Stifel Nicolaus lifted their target price on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a research note on Tuesday, May 14th. Piper Sandler began coverage on shares of Allogene Therapeutics in a research note on Friday, May 31st. They set an “overweight” rating and a $11.00 price objective for the company. Oppenheimer reduced their price objective on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 15th.

Insider Transactions at Allogene Therapeutics

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

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Allogene Therapeutics during the 4th quarter valued at about $27,000. Axxcess Wealth Management LLC purchased a new stake in Allogene Therapeutics during the 4th quarter valued at approximately $34,000. Aaron Wealth Advisors LLC purchased a new stake in Allogene Therapeutics during the 4th quarter valued at approximately $34,000. EP Wealth Advisors LLC purchased a new position in shares of Allogene Therapeutics in the third quarter valued at $34,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Allogene Therapeutics by 23.1% in the fourth quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock valued at $46,000 after purchasing an additional 2,680 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Down 7.3 %

Allogene Therapeutics stock opened at $2.16 on Wednesday. Allogene Therapeutics has a 12-month low of $2.13 and a 12-month high of $6.05. The firm’s fifty day moving average is $2.61 and its 200 day moving average is $3.49. The company has a market capitalization of $451.44 million, a PE ratio of -1.21 and a beta of 0.86.

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

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).