Allogene Therapeutics, Inc. (ALLO) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts rate Allogene Therapeutics a “Moderate Buy,” with eight buy ratings, two strong-buy ratings, three holds and one sell; the average 12-month price target is $8.30.
• Institutional investors own 83.63% of the company, with BlackRock initiating a roughly $62.7 million position and Frazier Life Sciences increasing its stake by 491.2% during the second quarter.
• ALLO shares opened at $1.46, near the lower end of their 52-week range, while the company’s latest quarterly loss of $0.13 per share was better than analysts’ expected $0.17 loss.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.30.

Several research firms have recently commented on ALLO. Citizens Jmp restated a "market outperform" rating and set a $6.00 price target on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings lowered shares of Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday. Finally, William Blair raised shares of Allogene Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 23rd.

Insider Buying and Selling at Allogene Therapeutics

In other news, SVP Earl Douglas sold 29,697 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $2.12, for a total transaction of $62,957.64. Following the transaction, the senior vice president directly owned 488,267 shares in the company, valued at $1,035,126.04. The trade was a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $62,706,000. Frazier Life Sciences Management L.P. boosted its stake in shares of Allogene Therapeutics by 491.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company's stock valued at $46,689,000 after buying an additional 18,650,000 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Allogene Therapeutics in the second quarter valued at approximately $27,297,000. Walleye Capital LLC acquired a new position in Allogene Therapeutics during the second quarter worth $6,797,000. Finally, Bank of America Corp DE purchased a new position in Allogene Therapeutics in the second quarter worth $6,630,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Stock Up 4.3%

Shares of ALLO stock opened at $1.46 on Friday. The stock has a market capitalization of $504.42 million, a PE ratio of -2.18 and a beta of 0.56. Allogene Therapeutics has a 52-week low of $1.04 and a 52-week high of $4.46. The stock's 50-day moving average price is $1.84 and its 200 day moving average price is $2.03.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $0.00 million. Analysts expect that Allogene Therapeutics will post -0.59 earnings per share for the current fiscal year.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing “off-the-shelf” allogeneic CAR T-cell therapies for cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient's own T cells, Allogene's products are made from T cells collected from healthy donors and engineered to recognize specific cancer targets. The company uses gene-editing and other technologies intended to support scalable manufacturing and potentially broaden patient access to cell therapy.

Allogene's pipeline has included investigational treatments for blood cancers and solid tumors.

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