Robert W. Baird Cuts Allogene Therapeutics (NASDAQ:ALLO) Price Target to $9.00

Allogene Therapeutics (NASDAQ:ALLO) had its price objective decreased by Robert W. Baird from $12.00 to $9.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other research firms have also weighed in on ALLO. Citizens Jmp lowered shares of Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. HC Wainwright lowered their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $8.44.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.11 on Wednesday. Allogene Therapeutics has a one year low of $0.86 and a one year high of $3.78. The stock has a market cap of $242.76 million, a PE ratio of -0.71 and a beta of 0.60. The stock has a 50 day moving average price of $1.48 and a 200 day moving average price of $1.92.

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

Insider Activity

In related news, CEO David D. Chang sold 46,668 shares of Allogene Therapeutics stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value 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 approximately $10,342,075.24. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 61,757 shares of company stock valued at $115,873. 13.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ALLO. Lynx1 Capital Management LP increased its position in shares of Allogene Therapeutics by 75.3% during the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock worth $23,163,000 after acquiring an additional 4,672,349 shares during the period. Goldman Sachs Group Inc. grew its stake in Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in Allogene Therapeutics by 34.9% during the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company’s stock worth $5,648,000 after purchasing an additional 1,001,000 shares during the period. Dimensional Fund Advisors LP raised its position in Allogene Therapeutics by 30.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after purchasing an additional 831,146 shares in the last quarter. Finally, Foresite Capital Management VI LLC acquired a new stake in Allogene Therapeutics in the 4th quarter valued at about $7,345,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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. 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).