Allogene Therapeutics (NASDAQ:ALLO) Price Target Lowered to $8.00 at HC Wainwright

Allogene Therapeutics (NASDAQ:ALLO) had its price target reduced by HC Wainwright from $9.00 to $8.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Allogene Therapeutics’ Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.14) EPS.

Several other equities analysts also recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, March 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.29.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.62 on Wednesday. Allogene Therapeutics has a one year low of $1.32 and a one year high of $4.63. The firm has a market capitalization of $351.97 million, a P/E ratio of -1.04 and a beta of 1.02. The business has a fifty day moving average of $1.89 and a 200 day moving average of $2.28.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. Analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the transaction, the insider now owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This represents a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the transaction, the chief executive officer now directly owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,866 shares of company stock valued at $194,461 over the last ninety days. 24.30% of the stock is owned by insiders.

Institutional Trading of Allogene Therapeutics

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in Allogene Therapeutics by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock worth $1,361,000 after buying an additional 5,642 shares during the period. California State Teachers Retirement System lifted its holdings in Allogene Therapeutics by 6.0% during the fourth quarter. California State Teachers Retirement System now owns 135,554 shares of the company’s stock worth $289,000 after buying an additional 7,685 shares during the period. Invesco Ltd. lifted its holdings in Allogene Therapeutics by 7.0% during the fourth quarter. Invesco Ltd. now owns 127,486 shares of the company’s stock worth $272,000 after buying an additional 8,359 shares during the period. ProShare Advisors LLC lifted its holdings in Allogene Therapeutics by 25.6% during the fourth quarter. ProShare Advisors LLC now owns 46,082 shares of the company’s stock worth $98,000 after buying an additional 9,388 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Allogene Therapeutics by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock worth $986,000 after buying an additional 9,635 shares during the period. Hedge funds and other institutional investors 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).