Analysts Set Allogene Therapeutics Inc (NASDAQ:ALLO) Price Target at $45.21
Shares of Allogene Therapeutics Inc (NASDAQ:ALLO) have been assigned a consensus rating of “Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $45.21.
A number of brokerages have recently weighed in on ALLO. BidaskClub downgraded Allogene Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 29th. Piper Sandler upped their price objective on Allogene Therapeutics from $50.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. ValuEngine downgraded Allogene Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 21st. HC Wainwright dropped their price objective on Allogene Therapeutics from $55.00 to $49.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Finally, JMP Securities upped their price objective on Allogene Therapeutics from $37.00 to $53.00 in a research note on Monday, June 1st.
ALLO stock traded up $2.34 during mid-day trading on Tuesday, reaching $44.96. 884,982 shares of the company traded hands, compared to its average volume of 970,454. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -22.59 and a beta of 1.98. The company has a quick ratio of 18.81, a current ratio of 18.81 and a debt-to-equity ratio of 0.08. Allogene Therapeutics has a fifty-two week low of $17.43 and a fifty-two week high of $55.00. The firm’s 50 day moving average price is $45.02 and its 200 day moving average price is $30.05.
In related news, major shareholder Group Holdings (Sbs) Advis Tpg sold 487,402 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $47.40, for a total value of $23,102,854.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arie Belldegrun bought 146,382 shares of Allogene Therapeutics stock in a transaction that occurred on Thursday, June 4th. The stock was purchased at an average cost of $43.00 per share, for a total transaction of $6,294,426.00. In the last three months, insiders sold 964,740 shares of company stock worth $43,391,975. 31.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its position in Allogene Therapeutics by 289.1% during the first quarter. BNP Paribas Arbitrage SA now owns 21,686 shares of the company’s stock valued at $422,000 after buying an additional 16,112 shares during the period. HighTower Advisors LLC purchased a new stake in Allogene Therapeutics during the first quarter valued at about $1,096,000. Bank of New York Mellon Corp boosted its position in Allogene Therapeutics by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 158,666 shares of the company’s stock valued at $3,084,000 after buying an additional 2,076 shares during the period. Aviva PLC boosted its position in Allogene Therapeutics by 164.2% during the first quarter. Aviva PLC now owns 182,090 shares of the company’s stock valued at $3,540,000 after buying an additional 113,180 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Allogene Therapeutics by 11.3% during the first quarter. Alliancebernstein L.P. now owns 1,976,724 shares of the company’s stock worth $38,428,000 after purchasing an additional 200,421 shares during the period. Institutional investors and hedge funds own 57.97% 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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.
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