Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Free Report)’s stock price fell 6.1% during mid-day trading on Monday . The stock traded as low as $1.77 and last traded at $1.7650. 2,321,403 shares changed hands during trading, a decline of 72% from the average session volume of 8,170,638 shares. The stock had previously closed at $1.88.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on ALLO. Argus raised their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 13th. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Piper Sandler increased their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, Sanford C. Bernstein increased their price target on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.52.
Read Our Latest Analysis on ALLO
Allogene Therapeutics Stock Performance
Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.01. Research analysts forecast that Allogene Therapeutics, Inc. will post -0.72 EPS for the current year.
Insider Activity at Allogene Therapeutics
In other news, CEO David D. Chang sold 47,763 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $2.47, for a total value of $117,974.61. Following the completion of the sale, the chief executive officer directly owned 5,150,599 shares in the company, valued at $12,721,979.53. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 65,051 shares of company stock valued at $159,228. Company insiders own 13.20% of the company’s stock.
Institutional Trading of Allogene Therapeutics
Several large investors have recently made changes to their positions in ALLO. Primecap Management Co. CA boosted its stake in Allogene Therapeutics by 23.8% during the 3rd quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock valued at $8,778,000 after purchasing an additional 1,360,168 shares during the last quarter. Aberdeen Group plc lifted its position in shares of Allogene Therapeutics by 31.9% during the 4th quarter. Aberdeen Group plc now owns 2,086,332 shares of the company’s stock worth $2,858,000 after buying an additional 504,067 shares in the last quarter. Patient Square Capital LP lifted its position in shares of Allogene Therapeutics by 13.1% during the 3rd quarter. Patient Square Capital LP now owns 2,981,396 shares of the company’s stock worth $3,697,000 after buying an additional 346,396 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Allogene Therapeutics by 235.7% during the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock worth $841,000 after buying an additional 431,119 shares in the last quarter. Finally, R Squared Ltd lifted its position in shares of Allogene Therapeutics by 40.5% during the 4th quarter. R Squared Ltd now owns 86,215 shares of the company’s stock worth $118,000 after buying an additional 24,842 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.
Allogene Therapeutics Company Profile
Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.
The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.
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