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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.29.

Several research firms have recently commented on ALLO. HC Wainwright decreased their target price on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. 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. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 target price for the company in a research report on Friday, March 14th.

Insiders Place Their Bets

In other news, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares of the company's stock, valued at approximately $10,342,075.24. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy L. Moore sold 14,746 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now owns 250,713 shares of the company's stock, 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 104,866 shares of company stock worth $194,461 over the last ninety days. Corporate insiders own 24.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Lynx1 Capital Management LP grew its holdings in shares of Allogene Therapeutics by 75.3% during the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company's stock valued at $23,163,000 after purchasing an additional 4,672,349 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Allogene Therapeutics by 30.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company's stock valued at $7,586,000 after buying an additional 831,146 shares in the last quarter. Foresite Capital Management VI LLC bought a new stake in shares of Allogene Therapeutics during the fourth quarter worth $7,345,000. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 407,070 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Allogene Therapeutics by 12.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock valued at $5,756,000 after acquiring an additional 291,800 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

Allogene Therapeutics Price Performance

ALLO stock traded up $0.08 during midday trading on Tuesday, reaching $1.45. 2,175,704 shares of the company were exchanged, compared to its average volume of 3,204,871. Allogene Therapeutics has a one year low of $1.23 and a one year high of $4.01. The firm has a market capitalization of $315.03 million, a price-to-earnings ratio of -0.93 and a beta of 0.99. The business has a 50-day moving average price of $1.75 and a two-hundred day moving average price of $2.14.

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

Allogene Therapeutics Company Profile

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).