Allogene Therapeutics (NASDAQ:ALLO) Stock Rating Upgraded by Citizens Jmp

Allogene Therapeutics (NASDAQ:ALLO) was upgraded by research analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $5.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 157.73% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $1.94 on Friday. The company has a market capitalization of $406.76 million, a PE ratio of -1.24 and a beta of 1.02. The company’s 50 day moving average price is $1.94 and its 200 day moving average price is $2.31. Allogene Therapeutics has a 52 week low of $1.32 and a 52 week high of $4.74.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. On average, equities analysts forecast 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 stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the firm’s stock in a transaction on 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 approximately $868,736.12. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,710 shares of company stock worth $92,125 over the last ninety days. Company insiders own 24.30% of the company’s stock.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently bought and sold shares of ALLO. abrdn plc acquired a new position in shares of Allogene Therapeutics during the fourth quarter valued at about $776,000. Barclays PLC raised its holdings in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after acquiring an additional 172,745 shares in the last quarter. Zacks Investment Management bought a new stake in shares of Allogene Therapeutics in the 3rd quarter worth approximately $1,446,000. Geode Capital Management LLC grew its holdings in shares of Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after purchasing an additional 407,070 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after purchasing an additional 173,457 shares during the period. 83.63% of the stock is owned by 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).