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

Allogene Therapeutics (NASDAQ:ALLO) had its target price reduced by HC Wainwright from $9.00 to $8.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.29.

Allogene Therapeutics Price Performance

Allogene Therapeutics stock opened at $1.69 on Wednesday. Allogene Therapeutics has a 12-month low of $1.32 and a 12-month high of $4.63. The company has a market capitalization of $367.18 million, a price-to-earnings ratio of -1.08 and a beta of 1.02. The firm’s fifty day moving average price is $1.91 and its 200 day moving average price is $2.30.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. Analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at $10,342,075.24. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy L. Moore sold 14,746 shares of the business’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 owns 250,713 shares of the company’s stock, valued at $428,719.23. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,866 shares of company stock valued at $194,461 over the last quarter. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in Allogene Therapeutics by 6.0% during the 4th quarter. California State Teachers Retirement System now owns 135,554 shares of the company’s stock valued at $289,000 after purchasing an additional 7,685 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Allogene Therapeutics by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 270,559 shares of the company’s stock valued at $576,000 after acquiring an additional 41,753 shares in the last quarter. Two Sigma Advisers LP raised its stake in Allogene Therapeutics by 12.1% during 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 in the last quarter. Rafferty Asset Management LLC raised its stake in Allogene Therapeutics by 15.9% during the 4th quarter. Rafferty Asset Management LLC now owns 367,445 shares of the company’s stock valued at $783,000 after acquiring an additional 50,499 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Allogene Therapeutics during the 4th quarter valued at $903,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

About Allogene Therapeutics

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).