Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Rating of "Moderate Buy" by Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.44.

A number of equities analysts recently commented on ALLO shares. Citigroup dropped their price target on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Citizens Jmp cut shares of Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 14th. Truist Financial dropped their price target on shares of Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. HC Wainwright dropped their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Finally, Piper Sandler dropped their price target on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO traded down $0.02 on Wednesday, reaching $1.17. The company's stock had a trading volume of 3,018,744 shares, compared to its average volume of 3,320,545. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $3.78. The company has a market cap of $254.82 million, a P/E ratio of -0.75 and a beta of 0.60. The company has a 50-day simple moving average of $1.35 and a 200 day simple moving average of $1.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting analysts' consensus estimates of ($0.28). On average, equities research analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the sale, the chief executive officer now owns 5,276,569 shares of the company's stock, valued at approximately $10,342,075.24. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 61,757 shares of company stock worth $115,873 in the last 90 days. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Allogene Therapeutics

Large investors have recently bought and sold shares of the stock. Cibc World Markets Corp purchased a new stake in Allogene Therapeutics during the 4th quarter worth approximately $26,000. PAX Financial Group LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $27,000. RPO LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $31,000. Caption Management LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $32,000. Finally, Syon Capital LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Company Profile

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).