Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.95 Consensus Target Price from Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.95.

Several analysts have recently weighed in on ALLO shares. Piper Sandler started coverage on Allogene Therapeutics in a report on Friday, May 31st. They issued an “overweight” rating and a $11.00 target price for the company. HC Wainwright dropped their price target on Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Truist Financial restated a “buy” rating and issued a $17.00 price target on shares of Allogene Therapeutics in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their price target on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th.

Allogene Therapeutics Price Performance

Shares of NASDAQ ALLO opened at $2.16 on Wednesday. The company has a market capitalization of $451.44 million, a price-to-earnings ratio of -1.21 and a beta of 0.86. The business has a 50-day moving average of $2.61 and a two-hundred day moving average of $3.49. Allogene Therapeutics has a 1 year low of $2.13 and a 1 year high of $6.05.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.01 million. During the same period in the previous year, the business earned ($0.68) EPS. Allogene Therapeutics’s revenue for the quarter was down 26.7% on a year-over-year basis. As a group, equities research analysts expect that Allogene Therapeutics will post -1.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Arie Belldegrun acquired 1,724,137 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the purchase, the director now directly owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Arie Belldegrun acquired 1,724,137 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the purchase, the director now directly owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franz B. Humer sold 11,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $2.34, for a total value of $26,208.00. Following the completion of the transaction, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The disclosure for this sale can be found here. 24.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Allogene Therapeutics by 0.9% during the third quarter. FMR LLC now owns 25,143,931 shares of the company’s stock worth $79,706,000 after purchasing an additional 225,976 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Allogene Therapeutics by 41.1% during the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after purchasing an additional 3,086,311 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Allogene Therapeutics by 76.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. Caxton Associates LP boosted its holdings in shares of Allogene Therapeutics by 61.4% during the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock worth $2,488,000 after purchasing an additional 294,989 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Allogene Therapeutics during the fourth quarter worth $1,661,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).