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

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

Several other analysts also recently issued reports on ALLO. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Piper Sandler reduced their price target 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. 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 research note on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.40.

Allogene Therapeutics Trading Up 2.6 %

NASDAQ ALLO opened at $1.94 on Friday. The company has a fifty day simple moving average of $1.94 and a 200 day simple moving average of $2.31. Allogene Therapeutics has a 12-month low of $1.32 and a 12-month high of $4.74. The company has a market cap of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02.

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

Insider Buying and Selling

In related news, insider Timothy L. Moore sold 14,746 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the transaction, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the executive vice president now directly owns 488,054 shares in the company, valued at $868,736.12. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,710 shares of company stock valued at $92,125. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lynx1 Capital Management LP boosted its holdings 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after purchasing an additional 831,146 shares during the last quarter. Foresite Capital Management VI LLC purchased a new stake in Allogene Therapeutics during the fourth quarter valued at about $7,345,000. Geode Capital Management LLC lifted its holdings in Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after purchasing an additional 407,070 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Allogene Therapeutics by 12.1% during the fourth quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company’s stock valued at $5,756,000 after purchasing an additional 291,800 shares during the last quarter. 83.63% of the stock is 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).