Allogene Therapeutics’ (ALLO) Buy Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note released on Friday,Benzinga reports. They currently have a $14.00 price target on the stock.

Several other analysts also recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Allogene Therapeutics Stock Up 2.6 %

Shares of Allogene Therapeutics stock opened at $1.94 on Friday. Allogene Therapeutics has a 52-week low of $1.32 and a 52-week high of $4.89. The company has a 50 day moving average of $1.94 and a 200 day moving average of $2.32. The company has a market capitalization of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. As a group, research analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Allogene Therapeutics

In other news, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now directly owns 250,713 shares of the company’s stock, valued at $428,719.23. This represents a 5.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the sale, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,710 shares of company stock valued at $92,125. 24.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lynx1 Capital Management LP boosted its position in shares of Allogene Therapeutics by 75.3% in the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock worth $23,163,000 after buying an additional 4,672,349 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Allogene Therapeutics by 30.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock worth $7,586,000 after buying an additional 831,146 shares in the last quarter. Foresite Capital Management VI LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $7,345,000. Geode Capital Management LLC boosted its position in shares of Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after buying an additional 407,070 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Allogene Therapeutics by 12.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company’s stock worth $5,756,000 after buying an additional 291,800 shares in the last quarter. 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).