The Goldman Sachs Group upgraded shares of Allogene Therapeutics (NASDAQ:ALLO – Get Rating) from a neutral rating to a buy rating in a report published on Friday morning, MarketBeat reports. They currently have $32.00 price objective on the stock, up from their prior price objective of $9.00.
ALLO has been the topic of a number of other reports. William Blair reiterated an outperform rating on shares of Allogene Therapeutics in a research report on Tuesday, March 29th. Raymond James cut their price objective on Allogene Therapeutics from $36.00 to $13.00 in a research report on Thursday, May 5th. Robert W. Baird began coverage on Allogene Therapeutics in a research report on Thursday, June 2nd. They issued a neutral rating and a $11.00 price objective on the stock. Finally, JMP Securities reiterated a buy rating and issued a $23.00 price objective on shares of Allogene Therapeutics in a research report on Monday, April 11th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $28.17.
Allogene Therapeutics Price Performance
Shares of Allogene Therapeutics stock opened at $12.81 on Friday. The business’s 50 day simple moving average is $9.63 and its two-hundred day simple moving average is $9.86. The stock has a market capitalization of $1.84 billion, a P/E ratio of -5.82 and a beta of 0.50. Allogene Therapeutics has a one year low of $6.43 and a one year high of $27.86.
Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.03. The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.10 million. Allogene Therapeutics had a negative return on equity of 32.28% and a negative net margin of 148,214.64%. During the same period in the previous year, the firm earned ($0.25) EPS. Sell-side analysts expect that Allogene Therapeutics will post -2.59 earnings per share for the current fiscal year.
Insider Activity at Allogene Therapeutics
In related news, CMO Rafael Amado sold 11,500 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $7.40, for a total transaction of $85,100.00. Following the sale, the chief marketing officer now directly owns 546,257 shares in the company, valued at $4,042,301.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Allogene Therapeutics news, CMO Rafael Amado sold 11,500 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $7.40, for a total value of $85,100.00. Following the sale, the chief marketing officer now directly owns 546,257 shares of the company’s stock, valued at $4,042,301.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Owen N. Witte sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $11.76, for a total value of $117,600.00. Following the completion of the sale, the director now directly owns 233,271 shares in the company, valued at $2,743,266.96. The disclosure for this sale can be found here. Insiders have sold 25,500 shares of company stock worth $247,940 over the last ninety days. 26.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Allogene Therapeutics
Several hedge funds have recently added to or reduced their stakes in ALLO. Nordea Investment Management AB boosted its holdings in Allogene Therapeutics by 36.7% in the fourth quarter. Nordea Investment Management AB now owns 417,439 shares of the company’s stock worth $6,462,000 after acquiring an additional 112,028 shares in the last quarter. Strs Ohio boosted its holdings in Allogene Therapeutics by 10.5% in the fourth quarter. Strs Ohio now owns 25,200 shares of the company’s stock worth $375,000 after acquiring an additional 2,400 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Allogene Therapeutics in the fourth quarter worth $38,000. Dupont Capital Management Corp raised its stake in shares of Allogene Therapeutics by 47.3% in the fourth quarter. Dupont Capital Management Corp now owns 17,216 shares of the company’s stock worth $257,000 after purchasing an additional 5,528 shares during the last quarter. Finally, Gratus Capital LLC purchased a new position in shares of Allogene Therapeutics in the fourth quarter worth $2,863,000. 75.33% of the stock is owned by institutional investors.
About Allogene Therapeutics
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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 ALL.
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