Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.73.

A number of brokerages recently weighed in on ALLO. William Blair reiterated an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Allogene Therapeutics in a report on Friday, November 8th. Finally, Piper Sandler dropped their price objective on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded down $0.09 during trading hours on Thursday, reaching $1.51. The company had a trading volume of 2,397,116 shares, compared to its average volume of 2,560,674. Allogene Therapeutics has a 1-year low of $1.50 and a 1-year high of $5.78. The company has a 50 day moving average of $2.01 and a 200 day moving average of $2.42. The firm has a market cap of $316.60 million, a price-to-earnings ratio of -0.97 and a beta of 0.83.

Insiders Place Their Bets

In other Allogene Therapeutics news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the sale, the executive vice president now directly owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 250,713 shares in the company, valued at approximately $428,719.23. This represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,067 shares of company stock worth $131,959 in the last quarter. Corporate insiders own 24.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLO. Zacks Investment Management bought a new position in shares of Allogene Therapeutics in the 3rd quarter valued at $1,446,000. Dimensional Fund Advisors LP grew its position in Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company's stock valued at $5,944,000 after acquiring an additional 507,021 shares during the last quarter. Geode Capital Management LLC raised its stake in Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company's stock worth $9,037,000 after acquiring an additional 407,070 shares in the last quarter. abrdn plc bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $776,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Allogene Therapeutics by 70.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company's stock valued at $1,119,000 after purchasing an additional 198,231 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).