Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) has received an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.00.
Several analysts recently issued reports on ALLO shares. HC Wainwright reduced their price target on shares of Allogene Therapeutics from $43.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, November 21st. Bank of America lowered shares of Allogene Therapeutics from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $24.00 to $9.00 in a research report on Monday, December 12th. Oppenheimer reissued an "outperform" rating and issued a $32.00 price objective on shares of Allogene Therapeutics in a research note on Thursday, December 1st. JPMorgan Chase & Co. raised shares of Allogene Therapeutics from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $20.00 to $11.00 in a research note on Tuesday. Finally, Robert W. Baird raised shares of Allogene Therapeutics from a "neutral" rating to an "outperform" rating and set a $12.00 price objective for the company in a research note on Friday, January 6th. They noted that the move was a valuation call.
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Insider Activity
In other news, General Counsel Veer Bhavnagri sold 5,602 shares of the firm's 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 completion of the transaction, the general counsel now owns 583,677 shares of the company's stock, valued at $4,395,087.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 29.80% of the company's stock.
Hedge Funds Weigh In On Allogene Therapeutics
Large investors have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Allogene Therapeutics by 2.6% during the third quarter. BlackRock Inc. now owns 8,212,580 shares of the company's stock worth $88,696,000 after buying an additional 207,414 shares during the period. State Street Corp increased its position in shares of Allogene Therapeutics by 78.5% during the first quarter. State Street Corp now owns 7,877,648 shares of the company's stock worth $71,765,000 after buying an additional 3,464,603 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Allogene Therapeutics by 6.3% during the third quarter. Price T Rowe Associates Inc. MD now owns 5,907,316 shares of the company's stock worth $63,800,000 after buying an additional 348,140 shares during the period. Woodline Partners LP increased its position in shares of Allogene Therapeutics by 1,255.9% during the second quarter. Woodline Partners LP now owns 5,859,679 shares of the company's stock worth $66,800,000 after buying an additional 5,427,529 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Allogene Therapeutics by 26.6% during the second quarter. JPMorgan Chase & Co. now owns 4,502,994 shares of the company's stock worth $51,335,000 after buying an additional 945,877 shares during the period. Institutional investors own 72.94% of the company's stock.
Allogene Therapeutics Trading Up 15.7 %
NASDAQ ALLO opened at $7.94 on Wednesday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.61 and a beta of 0.71. The firm's 50 day simple moving average is $7.70 and its 200 day simple moving average is $10.81. Allogene Therapeutics has a 1 year low of $5.41 and a 1 year high of $17.49.
Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.04. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.01 million. Allogene Therapeutics had a negative net margin of 126,580.16% and a negative return on equity of 37.74%. During the same quarter last year, the business posted ($0.57) EPS. On average, equities research analysts forecast that Allogene Therapeutics will post -2.38 earnings per share for the current year.
About Allogene Therapeutics
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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.
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