Allogene Therapeutics (NASDAQ:ALLO) Sees Unusually-High Trading Volume - What's Next?

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 7,271,224 shares changed hands during mid-day trading, an increase of 16% from the previous session's volume of 6,285,209 shares.The stock last traded at $3.02 and had previously closed at $2.84.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALLO shares. Piper Sandler cut their target price on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. HC Wainwright reissued a "buy" rating and set a $9.00 target price on shares of Allogene Therapeutics in a research note on Friday, November 8th. Finally, William Blair reissued an "outperform" rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $9.73.

Allogene Therapeutics Price Performance

The stock has a 50 day moving average price of $1.96 and a two-hundred day moving average price of $2.37. The firm has a market capitalization of $454.98 million, a price-to-earnings ratio of -1.39 and a beta of 0.83.

Insider Activity

In other news, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics 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 completion of the sale, the insider now directly owns 250,713 shares of the company's stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the completion of the sale, the executive vice president now directly owns 488,054 shares of the company's stock, valued at $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,067 shares of company stock valued at $131,959. 24.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Allogene Therapeutics by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 270,559 shares of the company's stock worth $576,000 after purchasing an additional 41,753 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Allogene Therapeutics by 12.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock worth $5,756,000 after buying an additional 291,800 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Allogene Therapeutics by 15.9% during the 4th quarter. Rafferty Asset Management LLC now owns 367,445 shares of the company's stock worth $783,000 after buying an additional 50,499 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in Allogene Therapeutics during the 4th quarter worth about $903,000. Finally, ProShare Advisors LLC lifted its holdings in Allogene Therapeutics by 25.6% during the 4th quarter. ProShare Advisors LLC now owns 46,082 shares of the company's stock worth $98,000 after buying an additional 9,388 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

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).