Allogene Therapeutics, Inc. (ALLO) – What Are Researchers Thinking About This Stock?

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.30.

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. William Blair upgraded shares of Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $6.00 price target on shares of Allogene Therapeutics in a research report on Monday, August 17th.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $1.46 on Friday. The firm has a market capitalization of $504.42 million, a price-to-earnings ratio of -2.18 and a beta of 0.56. Allogene Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $4.46. The stock’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.03.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million for the quarter, compared to analyst estimates of $0.00 million. As a group, sell-side analysts forecast that Allogene Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Activity

In related news, SVP Earl Douglas sold 29,697 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $2.12, for a total value of $62,957.64. Following the sale, the senior vice president owned 488,267 shares of the company’s stock, valued at approximately $1,035,126.04. This represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Allogene Therapeutics in the second quarter valued at $62,706,000. Frazier Life Sciences Management L.P. increased its position in Allogene Therapeutics by 491.2% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock worth $46,689,000 after purchasing an additional 18,650,000 shares in the last quarter. Primecap Management Co. CA purchased a new stake in Allogene Therapeutics during the 2nd quarter worth about $27,297,000. Walleye Capital LLC acquired a new position in Allogene Therapeutics in the 2nd quarter valued at about $6,797,000. Finally, Bank of America Corp DE acquired a new position in Allogene Therapeutics in the 2nd quarter valued at about $6,630,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing “off-the-shelf” allogeneic CAR T-cell therapies for cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient’s own T cells, Allogene’s products are made from T cells collected from healthy donors and engineered to recognize specific cancer targets. The company uses gene-editing and other technologies intended to support scalable manufacturing and potentially broaden patient access to cell therapy.

Allogene’s pipeline has included investigational treatments for blood cancers and solid tumors.