Allogene Therapeutics (NASDAQ:ALLO) Price Target Cut to $9.00 by Analysts at Robert W. Baird

Allogene Therapeutics (NASDAQ:ALLO - Free Report) had its price target decreased by Robert W. Baird from $12.00 to $9.00 in a report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research analysts have also recently commented on ALLO. Citizens Jmp cut shares of Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 14th. Canaccord Genuity Group restated a "buy" rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, HC Wainwright reduced their price target on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Allogene Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Stock Performance

ALLO traded down $0.01 during midday trading on Wednesday, hitting $1.11. The company had a trading volume of 1,555,938 shares, compared to its average volume of 3,352,593. The firm's 50-day simple moving average is $1.48 and its 200-day simple moving average is $1.91. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78. The company has a market capitalization of $241.70 million, a PE ratio of -0.71 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). As a group, sell-side analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Activity

In related news, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction 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 owns 5,276,569 shares in the company, valued at $10,342,075.24. The trade was a 0.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 61,757 shares of company stock worth $115,873. Insiders own 13.20% of the company's stock.

Institutional Trading of Allogene Therapeutics

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after acquiring an additional 3,747,397 shares during the period. Curi RMB Capital LLC boosted its stake in shares of Allogene Therapeutics by 31.0% in the 1st quarter. Curi RMB Capital LLC now owns 195,890 shares of the company's stock worth $286,000 after buying an additional 46,313 shares during the last quarter. AQR Capital Management LLC bought a new position in Allogene Therapeutics in the 1st quarter valued at $85,000. Frazier Life Sciences Management L.P. boosted its stake in Allogene Therapeutics by 34.9% in the first quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,001,000 shares during the last quarter. Finally, DAFNA Capital Management LLC increased its position in Allogene Therapeutics by 11.3% in the first quarter. DAFNA Capital Management LLC now owns 1,380,118 shares of the company's stock worth $2,015,000 after buying an additional 140,000 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).