Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Average Recommendation of "Moderate Buy" by Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.29.

A number of analysts have weighed in on the stock. HC Wainwright dropped their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Citizens Jmp upgraded shares of Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 price objective on the stock in a research note on Friday, March 14th. Royal Bank of Canada restated an "outperform" rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th.

Allogene Therapeutics Stock Performance

Shares of ALLO stock traded down $0.34 during trading hours on Friday, reaching $1.28. The company had a trading volume of 5,773,755 shares, compared to its average volume of 3,230,604. The stock's fifty day simple moving average is $1.64 and its 200 day simple moving average is $2.00. The company has a market capitalization of $279.94 million, a P/E ratio of -0.82 and a beta of 0.60. Allogene Therapeutics has a twelve month low of $1.23 and a twelve month high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.06. As a group, equities analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of Allogene Therapeutics stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1.96, for a total transaction of $91,469.28. Following the sale, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 61,757 shares of company stock worth $115,873. 24.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. abrdn plc bought a new position in Allogene Therapeutics in the fourth quarter valued at approximately $776,000. Barclays PLC grew its stake in shares of Allogene Therapeutics by 101.5% during the third quarter. Barclays PLC now owns 342,973 shares of the company's stock worth $959,000 after purchasing an additional 172,745 shares during the period. Vontobel Holding Ltd. increased its holdings in Allogene Therapeutics by 788.4% in the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company's stock valued at $416,000 after purchasing an additional 173,457 shares during the last quarter. Gilead Sciences Inc. acquired a new position in Allogene Therapeutics in the fourth quarter valued at about $2,464,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Allogene Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock worth $2,532,000 after buying an additional 9,990 shares during the last quarter. Institutional investors and hedge funds own 83.63% 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 acute lymphoblastic leukemia (ALL).