Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.73.

ALLO has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Allogene Therapeutics in a research note 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.

Insiders Place Their Bets

In related news, insider Timothy L. Moore sold 14,746 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,067 shares of company stock valued at $131,959 over the last quarter. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in Allogene Therapeutics by 101.5% during 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 during the period. Zacks Investment Management acquired a new position in shares of Allogene Therapeutics during the 3rd quarter worth about $1,446,000. Geode Capital Management LLC boosted its stake in Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after purchasing an additional 407,070 shares during the period. Dimensional Fund Advisors LP grew its holdings in Allogene Therapeutics by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after buying an additional 507,021 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Allogene Therapeutics by 70.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock worth $1,119,000 after buying an additional 198,231 shares during the period. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $1.43 on Thursday. The firm has a market capitalization of $299.83 million, a price-to-earnings ratio of -0.92 and a beta of 0.83. The company has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.39. Allogene Therapeutics has a 52-week low of $1.32 and a 52-week high of $5.78.

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).