A number of other brokerages also recently commented on ALLO. Raymond James downgraded Allogene Therapeutics from an outperform rating to a market perform rating in a report on Monday, June 1st. William Blair reissued a buy rating on shares of Allogene Therapeutics in a report on Friday, May 29th. Goldman Sachs Group increased their price target on Allogene Therapeutics from $45.00 to $66.00 and gave the company a buy rating in a report on Monday, June 1st. Cowen reaffirmed a buy rating on shares of Allogene Therapeutics in a report on Sunday, August 9th. Finally, SunTrust Banks increased their target price on Allogene Therapeutics from $32.00 to $50.00 and gave the stock a hold rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $45.85.
ALLO opened at $38.00 on Thursday. The business’s fifty day moving average is $35.61 and its two-hundred day moving average is $34.84. The company has a market cap of $5.29 billion, a price-to-earnings ratio of -18.01 and a beta of 1.67. Allogene Therapeutics has a one year low of $17.43 and a one year high of $55.00.
In related news, General Counsel Veer Bhavnagri sold 31,553 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $36.89, for a total value of $1,163,990.17. Following the sale, the general counsel now directly owns 385,455 shares in the company, valued at approximately $14,219,434.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Group Holdings (Sbs) Advis Tpg sold 24,904 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $43.27, for a total value of $1,077,596.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,226 shares of company stock worth $2,934,358. 31.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Capital Research Global Investors boosted its position in Allogene Therapeutics by 37.1% during the first quarter. Capital Research Global Investors now owns 8,972,571 shares of the company’s stock valued at $174,427,000 after purchasing an additional 2,429,893 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Allogene Therapeutics by 43.5% during the second quarter. Vanguard Group Inc. now owns 5,881,314 shares of the company’s stock worth $251,839,000 after purchasing an additional 1,781,863 shares during the period. Capital International Investors increased its holdings in shares of Allogene Therapeutics by 17.8% during the first quarter. Capital International Investors now owns 4,578,800 shares of the company’s stock worth $89,012,000 after purchasing an additional 690,779 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Allogene Therapeutics by 11.3% during the first quarter. Alliancebernstein L.P. now owns 1,976,724 shares of the company’s stock worth $38,428,000 after purchasing an additional 200,421 shares during the period. Finally, State Street Corp increased its holdings in shares of Allogene Therapeutics by 0.9% during the first quarter. State Street Corp now owns 1,694,216 shares of the company’s stock worth $32,936,000 after purchasing an additional 14,766 shares during the period. Institutional investors own 62.56% of the company’s stock.
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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.
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