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

Royal Bank of Canada reiterated their outperform rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Other analysts have also issued research reports about the company. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target for the company in a research note on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a research note on Friday. William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Finally, Piper Sandler dropped their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Allogene Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $1.94 on Friday. The firm has a market cap of $406.76 million, a PE ratio of -1.24 and a beta of 1.02. Allogene Therapeutics has a fifty-two week low of $1.32 and a fifty-two week high of $4.74. The business has a 50 day moving average price of $1.94 and a 200-day moving average price of $2.31.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. Research analysts predict that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling at Allogene Therapeutics

In other news, insider Timothy L. Moore sold 14,746 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the completion of the transaction, the insider now directly owns 250,713 shares in the company, valued at $428,719.23. This trade represents a 5.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Zachary Roberts sold 27,199 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now owns 488,054 shares of the company’s stock, valued at $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,710 shares of company stock valued at $92,125. 24.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ALLO. Lynx1 Capital Management LP increased its holdings 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 valued at $23,163,000 after acquiring an additional 4,672,349 shares in the last quarter. Foresite Capital Management VI LLC bought a new stake in Allogene Therapeutics in the 4th quarter worth about $7,345,000. Patient Square Capital LP bought a new stake in Allogene Therapeutics in the 4th quarter worth about $3,174,000. Gilead Sciences Inc. bought a new stake in Allogene Therapeutics in the 4th quarter worth about $2,464,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 worth $7,586,000 after buying an additional 831,146 shares in the last quarter. 83.63% of the stock is currently owned by 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).