Allogene Therapeutics (NASDAQ:ALLO) Price Target Raised to $8.00 at Citigroup

Allogene Therapeutics (NASDAQ:ALLO) had its price target increased by investment analysts at Citigroup from $7.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 244.83% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Oppenheimer assumed coverage on shares of Allogene Therapeutics in a research report on Thursday. They set an “outperform” rating and a $11.00 target price on the stock. Piper Sandler initiated coverage on shares of Allogene Therapeutics in a research report on Friday, May 31st. They set an “overweight” rating and a $11.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and set a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday. HC Wainwright reduced their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Finally, Stifel Nicolaus upped their target price on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Stock Down 1.7 %

ALLO stock traded down $0.04 during midday trading on Friday, hitting $2.32. The company’s stock had a trading volume of 1,881,134 shares, compared to its average volume of 2,674,661. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78. The company has a 50 day moving average of $2.57 and a two-hundred day moving average of $3.40. The firm has a market capitalization of $484.88 million, a price-to-earnings ratio of -1.30 and a beta of 0.85.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Monday, May 13th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 50.81%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. During the same quarter in the prior year, the business earned ($0.68) earnings per share. Allogene Therapeutics’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, analysts anticipate that Allogene Therapeutics will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $2.34, for a total value of $26,208.00. Following the transaction, the director now directly owns 255,253 shares of the company’s stock, valued at $597,292.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Arie Belldegrun acquired 1,724,137 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $4,999,997.30. Following the completion of the acquisition, the director now directly owns 1,724,137 shares in the company, valued at approximately $4,999,997.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the completion of the sale, the director now owns 255,253 shares of the company’s stock, valued at $597,292.02. The disclosure for this sale can be found here. 24.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently made changes to their positions in ALLO. Price T Rowe Associates Inc. MD grew its stake in Allogene Therapeutics by 76.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter worth $1,284,000. Caxton Associates LP lifted its position in Allogene Therapeutics by 61.4% during the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after purchasing an additional 294,989 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Allogene Therapeutics in the first quarter valued at $1,280,000. Finally, SG Americas Securities LLC purchased a new position in shares of Allogene Therapeutics during the 4th quarter valued at about $172,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).