Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $29.08.
Several analysts have recently commented on the company. Robert W. Baird assumed coverage on Allogene Therapeutics in a report on Thursday, June 2nd. They set a “neutral” rating and a $11.00 target price on the stock. Truist Financial decreased their target price on Allogene Therapeutics to $29.00 in a report on Tuesday, August 23rd. Oppenheimer decreased their target price on Allogene Therapeutics from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. The Goldman Sachs Group upgraded Allogene Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $32.00 in a report on Friday, July 15th. Finally, Raymond James cut Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 10th.
Allogene Therapeutics Price Performance
Shares of NASDAQ:ALLO opened at $14.38 on Thursday. The business’s fifty day moving average price is $14.14 and its two-hundred day moving average price is $10.80. Allogene Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $27.86. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -6.57 and a beta of 0.52.
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Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.09. Allogene Therapeutics had a negative return on equity of 34.73% and a negative net margin of 124,571.27%. During the same period in the previous year, the business earned ($0.53) EPS. Research analysts expect that Allogene Therapeutics will post -2.44 EPS for the current fiscal year.
Insider Buying and Selling at Allogene Therapeutics
In other Allogene Therapeutics news, Director Owen N. Witte sold 10,000 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $16.50, for a total value of $165,000.00. Following the transaction, the director now owns 223,271 shares of the company’s stock, valued at $3,683,971.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 26,000 shares of company stock valued at $351,780. 29.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Allogene Therapeutics
Several hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. raised its position 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. Point72 Hong Kong Ltd acquired a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $63,000. US Bancorp DE raised its position in shares of Allogene Therapeutics by 41.9% during the second quarter. US Bancorp DE now owns 5,474 shares of the company’s stock worth $63,000 after purchasing an additional 1,616 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth about $66,000. Finally, InterOcean Capital Group LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth about $109,000. Institutional investors and hedge funds own 84.81% 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 ALL.
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Source: marketbeat.com
