Canaccord Genuity Group Reiterates Buy Rating for Allogene Therapeutics (NASDAQ:ALLO)

Canaccord Genuity Group restated their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO - Free Report) in a research report released on Friday,Benzinga reports. They currently have a $14.00 price target on the stock.

ALLO has been the topic of several other research reports. William Blair reaffirmed an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Citizens Jmp raised Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a research report on Friday. Finally, Piper Sandler cut their target price on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.40.

Allogene Therapeutics Stock Up 2.6 %

Shares of Allogene Therapeutics stock traded up $0.05 on Friday, hitting $1.94. 5,516,701 shares of the company were exchanged, compared to its average volume of 3,047,190. The stock has a market capitalization of $406.76 million, a price-to-earnings ratio of -1.24 and a beta of 1.02. The company has a 50-day moving average price of $1.94 and a 200 day moving average price of $2.31. Allogene Therapeutics has a 1-year low of $1.32 and a 1-year high of $4.74.

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Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. Research analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Zachary Roberts sold 27,199 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The sale 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 on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now owns 250,713 shares of the company's stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,710 shares of company stock worth $92,125 over the last 90 days. Corporate insiders own 24.30% of the company's stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of ALLO. abrdn plc acquired a new position in Allogene Therapeutics in the fourth quarter valued at $776,000. Barclays PLC boosted its stake in Allogene Therapeutics by 101.5% in the third quarter. Barclays PLC now owns 342,973 shares of the company's stock valued at $959,000 after acquiring an additional 172,745 shares in the last quarter. Zacks Investment Management acquired a new position in Allogene Therapeutics in the third quarter valued at $1,446,000. Geode Capital Management LLC boosted its stake in Allogene Therapeutics by 14.4% in the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company's stock valued at $9,037,000 after acquiring an additional 407,070 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in Allogene Therapeutics by 788.4% in the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company's stock valued at $416,000 after acquiring an additional 173,457 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

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).