Robert W. Baird Issues Pessimistic Forecast for Allogene Therapeutics (NASDAQ:ALLO) Stock Price

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) had its price objective reduced by research analysts at Robert W. Baird from $12.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock.

Several other equities research analysts also recently weighed in on ALLO. Canaccord Genuity Group reissued a "buy" rating and set a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. Citizens Jmp cut Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Wednesday. HC Wainwright reduced their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $9.26.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.13 on Wednesday. The company has a 50-day simple moving average of $1.55 and a two-hundred day simple moving average of $1.95. The firm has a market capitalization of $247.14 million, a PE ratio of -0.72 and a beta of 0.60. Allogene Therapeutics has a one year low of $1.06 and a one year high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.28) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.28). Analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Activity at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 61,757 shares of company stock worth $115,873 over the last three months. 13.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cibc World Markets Corp acquired a new stake in Allogene Therapeutics during the 4th quarter worth about $26,000. PAX Financial Group LLC purchased a new position in shares of Allogene Therapeutics in the fourth quarter worth about $27,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth about $28,000. RPO LLC purchased a new stake in Allogene Therapeutics in the fourth quarter valued at approximately $31,000. Finally, Caption Management LLC purchased a new stake in Allogene Therapeutics in the fourth quarter valued at approximately $32,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Company Profile

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).

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