Allogene Therapeutics’ (ALLO) Outperform Rating Reaffirmed at Royal Bank of Canada

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They presently have a $10.00 price objective on the stock. Royal Bank of Canada’s target price indicates a potential upside of 415.46% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Friday. Finally, Piper Sandler reduced their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.40.

Allogene Therapeutics Trading Up 2.6 %

NASDAQ:ALLO opened at $1.94 on Friday. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.74. The firm’s fifty day simple moving average is $1.94 and its 200 day simple moving average is $2.31. The firm has a market capitalization of $406.76 million, a PE ratio of -1.24 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. As a group, analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the sale, the insider now owns 250,713 shares of the company’s stock, valued at $428,719.23. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,710 shares of company stock worth $92,125 in the last quarter. 24.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Cibc World Markets Corp acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $26,000. PAX Financial Group LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $27,000. RPO LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $31,000. Caption Management LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $32,000. Finally, Syon Capital LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds 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).