Allogene Therapeutics’ (ALLO) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report sent to investors on Wednesday,Benzinga reports. Royal Bank of Canada currently has a $10.00 price target on the stock.

Several other brokerages have also recently weighed in on ALLO. HC Wainwright dropped their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Oppenheimer reduced their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. Citizens Jmp cut shares of Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Robert W. Baird decreased their price target on Allogene Therapeutics from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $8.44.

Allogene Therapeutics Trading Up 1.8%

ALLO opened at $1.11 on Wednesday. The company has a market cap of $242.76 million, a price-to-earnings ratio of -0.71 and a beta of 0.60. The company’s fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.92. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting analysts’ consensus estimates of ($0.28). As a group, equities analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders sold 61,757 shares of company stock valued at $115,873. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in Allogene Therapeutics by 101.5% during the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after purchasing an additional 172,745 shares during the period. abrdn plc purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $776,000. Vontobel Holding Ltd. grew its position in shares of Allogene Therapeutics by 788.4% in the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock worth $416,000 after buying an additional 173,457 shares during the period. Rhumbline Advisers lifted its position in Allogene Therapeutics by 10.1% during the 4th quarter. Rhumbline Advisers now owns 191,714 shares of the company’s stock valued at $408,000 after acquiring an additional 17,527 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Allogene Therapeutics by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 330,769 shares of the company’s stock valued at $705,000 after buying an additional 13,150 shares in the last quarter. Hedge funds and other institutional investors 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).