Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Allogene Therapeutics, with eight buys, one strong buy, three holds and one sell. The average 12-month price target is $8.30, versus the stock’s recent price of $1.78.
• 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.
• Allogene reported a quarterly loss of $0.13 per share, better than the expected $0.17 loss, and generated $4.64 million in revenue. Its stock remains near the lower end of its 52-week range of $1.04 to $4.46.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.30.

Several research firms recently issued reports on ALLO. Citizens Jmp reiterated a "market outperform" rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings cut Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 9th.

Insiders Place Their Bets

In other Allogene Therapeutics news, SVP Earl Douglas sold 29,697 shares of Allogene Therapeutics stock in a transaction on Friday, August 21st. The shares were sold at an average price of $2.12, for a total transaction of $62,957.64. Following the sale, the senior vice president owned 488,267 shares of the company's stock, valued at $1,035,126.04. The trade was a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company's stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Allogene Therapeutics in the 2nd quarter valued at approximately $62,706,000. Frazier Life Sciences Management L.P. grew 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 2nd quarter valued at $27,297,000. Candriam S.C.A. raised its holdings in shares of Allogene Therapeutics by 30.0% in the 1st quarter. Candriam S.C.A. now owns 2,997,318 shares of the company's stock valued at $7,313,000 after buying an additional 691,674 shares during the period. Finally, Walleye Capital LLC purchased a new position in Allogene Therapeutics during the 2nd quarter valued at about $6,797,000. Institutional investors and hedge funds own 83.63% of the company's stock.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.78 on Tuesday. The firm has a 50-day simple moving average of $1.95 and a 200-day simple moving average of $2.14. Allogene Therapeutics has a one year low of $1.04 and a one year high of $4.46. The firm has a market cap of $614.97 million, a P/E ratio of -2.66 and a beta of 0.47.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $4.64 million for the quarter, compared to analysts' expectations of $0.00 million. On average, research analysts predict that Allogene Therapeutics will post -0.59 EPS for the current fiscal year.

About Allogene Therapeutics

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing “off-the-shelf” allogeneic CAR T-cell therapies for the treatment of cancer. Unlike autologous CAR T treatments, which are manufactured from an individual patient's own cells, Allogene's therapies are designed to use T cells collected from healthy donors, potentially supporting more standardized manufacturing and broader patient access.

The company's investigational pipeline includes cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A), an anti-CD19 CAR T-cell therapy being evaluated in B-cell malignancies, and ALLO-715, an anti-BCMA CAR T-cell therapy being studied for multiple myeloma.

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