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. Royal Bank of Canada currently has a $10.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a report on Friday. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. Piper Sandler reduced their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a report on Friday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Allogene Therapeutics has an average rating of “Moderate Buy” and an average target price of $9.40.

Allogene Therapeutics Price Performance

Allogene Therapeutics stock opened at $1.94 on Friday. The firm has a 50 day simple moving average of $1.94 and a 200-day simple moving average of $2.32. The stock has a market capitalization of $406.76 million, a PE ratio of -1.24 and a beta of 1.02. Allogene Therapeutics has a 12-month low of $1.32 and a 12-month high of $4.89.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. On average, analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction that occurred 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 sale, the insider now owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,710 shares of company stock valued at $92,125. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp purchased a new stake in Allogene Therapeutics in the 4th quarter worth approximately $26,000. PAX Financial Group LLC purchased a new stake in Allogene Therapeutics in the 4th quarter worth approximately $27,000. RPO LLC purchased a new stake in Allogene Therapeutics in the 4th quarter worth approximately $31,000. Caption Management LLC bought a new position in shares of Allogene Therapeutics during the 4th quarter valued at $32,000. Finally, Syon Capital LLC bought a new position in shares of Allogene Therapeutics during the 4th quarter valued at $39,000. 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).