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

Allogene Therapeutics (NASDAQ:ALLO) had its price objective decreased by HC Wainwright from $9.00 to $8.00 in a research note published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, Citizens Jmp upgraded shares of 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.29.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.69 on Wednesday. The firm has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $2.30. Allogene Therapeutics has a 1-year low of $1.32 and a 1-year high of $4.63. The stock has a market cap of $367.18 million, a price-to-earnings ratio of -1.08 and a beta of 1.02.

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. On average, equities analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of Allogene Therapeutics stock in a transaction 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 owns 5,276,569 shares in the company, valued at $10,342,075.24. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction on Tuesday, January 21st. The shares were 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 owns 488,054 shares in the company, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,866 shares of company stock worth $194,461 in the last quarter. 24.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Lynx1 Capital Management LP raised its stake 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 valued at $23,163,000 after acquiring an additional 4,672,349 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Allogene Therapeutics by 30.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after acquiring an additional 831,146 shares during the period. Foresite Capital Management VI LLC purchased a new position in shares of Allogene Therapeutics in the 4th quarter valued at $7,345,000. Geode Capital Management LLC raised its stake in shares of Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after acquiring an additional 407,070 shares during the period. Finally, Two Sigma Advisers LP raised its stake in shares of Allogene Therapeutics by 12.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company’s stock valued at $5,756,000 after acquiring an additional 291,800 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).