Allogene Therapeutics (NASDAQ:ALLO) Shares Gap Up - What's Next?

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $2.04, but opened at $2.17. Allogene Therapeutics shares last traded at $2.99, with a volume of 10,832,173 shares.

Analysts Set New Price Targets

ALLO has been the subject of several recent analyst reports. William Blair restated an "outperform" rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Friday, November 8th. Finally, Piper Sandler reduced their price objective on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $9.73.

Allogene Therapeutics Price Performance

The company has a market cap of $454.98 million, a PE ratio of -1.39 and a beta of 0.83. The business has a 50-day moving average of $1.96 and a 200 day moving average of $2.37.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, EVP Zachary Roberts sold 27,199 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the sale, the executive vice president now owns 488,054 shares of the company's stock, valued at approximately $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now directly owns 250,713 shares of the company's stock, valued at $428,719.23. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,067 shares of company stock valued at $131,959. Company insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in ALLO. Cibc World Markets Corp bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $26,000. PAX Financial Group LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $27,000. RPO LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $31,000. Caption Management LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $32,000. Finally, Private Advisor Group LLC bought a new position in shares of Allogene Therapeutics in the third quarter worth about $34,000. Institutional investors own 83.63% of the company's stock.

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).