Canaccord Genuity Group Reiterates Buy Rating for Allogene Therapeutics (NASDAQ:ALLO)

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They presently have a $14.00 target price on the stock.

ALLO has been the subject of a number of other reports. Piper Sandler decreased their target price 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. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Finally, Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO traded up $0.01 during trading hours on Friday, hitting $1.90. 2,691,167 shares of the company’s stock traded hands, compared to its average volume of 3,080,147. The business has a fifty day moving average price of $1.95 and a 200-day moving average price of $2.33. The firm has a market capitalization of $397.33 million, a P/E ratio of -1.21 and a beta of 1.02. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.89.

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 analysts’ consensus estimates of ($0.34) by $0.06. As a group, equities analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other Allogene Therapeutics news, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics 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 directly owns 488,054 shares of the company’s stock, valued at $868,736.12. The trade was a 5.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the transaction, the insider now directly owns 250,713 shares of the company’s stock, valued at $428,719.23. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,710 shares of company stock valued at $92,125. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cibc World Markets Corp purchased a new position in Allogene Therapeutics during the 4th quarter worth $26,000. PAX Financial Group LLC purchased a new position in shares of Allogene Therapeutics during the 4th quarter worth $27,000. RPO LLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter worth approximately $31,000. Caption Management LLC purchased a new stake in Allogene Therapeutics during the fourth quarter valued at about $32,000. Finally, Syon Capital LLC purchased a new stake in Allogene Therapeutics during the fourth quarter worth approximately $39,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).