Investment analysts at B. Riley began coverage on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. The firm set a “buy” rating and a $52.00 price target on the stock. B. Riley’s price objective suggests a potential upside of 89.09% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Stifel Nicolaus raised shares of Allogene Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $43.00 in a research report on Tuesday, January 26th. Zacks Investment Research raised Allogene Therapeutics from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Thursday, February 11th. HC Wainwright reissued a “buy” rating on shares of Allogene Therapeutics in a research report on Thursday, April 22nd. Finally, Oppenheimer restated a “buy” rating on shares of Allogene Therapeutics in a research note on Monday, April 12th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $51.92.
Shares of ALLO opened at $27.50 on Friday. The company’s fifty day moving average is $32.42 and its 200-day moving average is $32.11. Allogene Therapeutics has a 12 month low of $24.85 and a 12 month high of $55.00. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -12.91 and a beta of 1.28.
In related news, General Counsel Veer Bhavnagri sold 10,000 shares of the stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $32.05, for a total transaction of $320,500.00. Following the completion of the sale, the general counsel now owns 431,353 shares in the company, valued at approximately $13,824,863.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 31.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ALLO. First Trust Advisors LP boosted its stake in shares of Allogene Therapeutics by 0.4% in the 1st quarter. First Trust Advisors LP now owns 101,816 shares of the company’s stock valued at $2,944,000 after purchasing an additional 375 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter valued at about $93,000. Wealthstreet Investment Advisors LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter valued at about $202,000. Pacer Advisors Inc. boosted its stake in shares of Allogene Therapeutics by 92.3% in the 4th quarter. Pacer Advisors Inc. now owns 4,830 shares of the company’s stock valued at $122,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Regents of The University of California bought a new position in shares of Allogene Therapeutics in the 4th quarter valued at about $22,720,000. 59.86% of the stock is currently owned by institutional investors.
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 ALL.
Recommended Story: How mutual funds make money
Receive News & Ratings for Allogene Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allogene Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.