Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Target Price at $8.44

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.4444.

Several research firms have recently commented on ALLO. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO opened at $1.42 on Friday. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $3.78. The company has a market cap of $319.12 million, a price-to-earnings ratio of -1.45 and a beta of 0.47. The stock’s 50 day simple moving average is $1.31 and its 200 day simple moving average is $1.26.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. As a group, equities analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In related news, CFO Geoffrey M. Parker sold 36,744 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total value of $46,297.44. Following the sale, the chief financial officer directly owned 1,276,796 shares in the company, valued at $1,608,762.96. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALLO. CANADA LIFE ASSURANCE Co raised its stake in shares of Allogene Therapeutics by 27.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after purchasing an additional 8,519 shares in the last quarter. Quadrature Capital Ltd grew its position in Allogene Therapeutics by 29.6% in the 2nd quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock valued at $50,000 after buying an additional 10,059 shares in the last quarter. Brighton Jones LLC increased its stake in Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after buying an additional 11,311 shares during the period. Hsbc Holdings PLC raised its position in shares of Allogene Therapeutics by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 81,435 shares of the company’s stock worth $115,000 after buying an additional 12,280 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in shares of Allogene Therapeutics by 2.7% in the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock worth $652,000 after acquiring an additional 13,831 shares during the period. Institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.