Allogene Therapeutics, Inc. (NASDAQ:ALLO) shares shot up 3.8% on Friday following insider buying activity. The company traded as high as $12.49 and last traded at $12.42. 36,580 shares changed hands during trading, a decline of 98% from the average session volume of 1,492,110 shares. The stock had previously closed at $11.96.Specifically, Director Arie Belldegrun purchased 155,039 shares of the firm's stock in a transaction on Wednesday, January 12th. The shares were purchased at an average price of $12.60 per share, for a total transaction of $1,953,491.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 26.30% of the company's stock.
A number of brokerages have recently commented on ALLO. Cowen assumed coverage on Allogene Therapeutics in a research note on Wednesday, October 20th. They issued an "outperform" rating for the company. JMP Securities reissued a "buy" rating and issued a $27.00 price objective on shares of Allogene Therapeutics in a report on Friday, December 17th. Stifel Nicolaus cut Allogene Therapeutics from a "buy" rating to a "hold" rating and dropped their price target for the company from $44.00 to $18.00 in a research note on Friday, October 8th. Roth Capital decreased their price target on Allogene Therapeutics from $60.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, October 8th. Finally, Raymond James upgraded Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a research report on Thursday, September 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics has a consensus rating of "Buy" and an average target price of $35.40.
The firm has a market cap of $1.77 billion, a PE ratio of -6.61 and a beta of 0.71. The firm has a fifty day simple moving average of $16.67 and a two-hundred day simple moving average of $20.36.
Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.57) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.56) by ($0.01). The company had revenue of $0.05 million during the quarter. During the same quarter last year, the firm posted ($0.52) earnings per share. Research analysts forecast that Allogene Therapeutics, Inc. will post -1.98 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new position in Allogene Therapeutics during the second quarter valued at $48,000. Advisory Services Network LLC purchased a new position in Allogene Therapeutics during the second quarter valued at $102,000. FORA Capital LLC purchased a new position in Allogene Therapeutics during the second quarter valued at $107,000. Amundi purchased a new position in Allogene Therapeutics during the second quarter valued at $132,000. Finally, AGF Investments Inc. purchased a new position in Allogene Therapeutics during the second quarter valued at $192,000. Hedge funds and other institutional investors own 76.34% of the company's stock.
Allogene Therapeutics Company Profile (NASDAQ:ALLO)
Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.
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