JPMorgan Chase & Co. upgraded shares of Allogene Therapeutics (NASDAQ:ALLO – Get Rating) from a neutral rating to an overweight rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $11.00 price target on the stock, down from their previous price target of $20.00.

Several other research analysts also recently weighed in on the stock. JMP Securities restated a buy rating and issued a $23.00 target price on shares of Allogene Therapeutics in a research note on Tuesday, September 27th. Oppenheimer restated an outperform rating and issued a $32.00 target price on shares of Allogene Therapeutics in a research note on Thursday, December 1st. HC Wainwright decreased their target price on shares of Allogene Therapeutics from $43.00 to $29.00 and set a buy rating for the company in a research note on Monday, November 21st. Bank of America downgraded shares of Allogene Therapeutics from a buy rating to an underperform rating and decreased their target price for the company from $24.00 to $9.00 in a research note on Monday, December 12th. Finally, EF Hutton Acquisition Co. I initiated coverage on shares of Allogene Therapeutics in a research note on Thursday, January 5th. They issued a buy rating and a $15.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $20.27.

Allogene Therapeutics Stock Up 15.7 %

Allogene Therapeutics stock opened at $7.94 on Tuesday. Allogene Therapeutics has a 52-week low of $5.41 and a 52-week high of $17.49. The firm has a fifty day moving average of $7.70 and a 200-day moving average of $10.81. The firm has a market capitalization of $1.15 billion, a P/E ratio of -3.61 and a beta of 0.71.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, General Counsel Veer Bhavnagri sold 5,602 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $7.53, for a total transaction of $42,183.06. Following the sale, the general counsel now directly owns 583,677 shares of the company's stock, valued at $4,395,087.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.80% of the stock is currently owned by insiders.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. CI Investments Inc. raised its holdings in shares of Allogene Therapeutics by 80.5% during the second quarter. CI Investments Inc. now owns 2,193 shares of the company's stock worth $25,000 after purchasing an additional 978 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Allogene Therapeutics during the third quarter worth $34,000. US Bancorp DE increased its holdings in shares of Allogene Therapeutics by 41.9% in the 2nd quarter. US Bancorp DE now owns 5,474 shares of the company's stock worth $63,000 after acquiring an additional 1,616 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Allogene Therapeutics in the 3rd quarter worth about $67,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Allogene Therapeutics in the 1st quarter worth about $66,000. 72.94% of the stock is owned by institutional investors and hedge funds.

About Allogene Therapeutics

(Get Rating)

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 ALL.

See Also

• Get a free copy of the StockNews.com research report on Allogene Therapeutics (ALLO)
• 3 Retail Stocks Ringing the Register in 2023
• Is It Time To Get Aggressive With Defense Stocks?
• When Will Crane Holdings Take Flight?
• EVgo Stock is Charged Up to Ride the EV Adoption Wave
• Qualcomm Gets a Boost from Analysts, but is it Time to Buy?

Receive News & Ratings for Allogene Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allogene Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.