Allogene Therapeutics (NASDAQ:ALLO) Rating Increased to Outperform at Citizens Jmp

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

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

Allogene Therapeutics Trading Up 2.6 %

ALLO stock 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 business’s 50 day moving average is $1.94 and its 200-day moving average is $2.31. The firm 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 announced 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. Sell-side analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of the firm’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 transaction, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This trade represents a 5.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $48,414.22. Following the completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,710 shares of company stock worth $92,125 over the last three months. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Large investors have recently bought and sold shares of the company. Lynx1 Capital Management LP increased its position 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 buying an additional 4,672,349 shares in the last quarter. Foresite Capital Management VI LLC bought a new stake in shares of Allogene Therapeutics in the fourth quarter worth about $7,345,000. Patient Square Capital LP acquired a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $3,174,000. Gilead Sciences Inc. acquired a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $2,464,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Allogene Therapeutics by 30.4% during the 4th 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 in the last quarter. 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).