Allogene Therapeutics, Inc. (NASDAQ:ALLO) Director Purchases $4,999,997.30 in Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) Director Arie Belldegrun purchased 1,724,137 shares of the stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $2.90 per share, with a total value of $4,999,997.30. Following the transaction, the director now owns 1,724,137 shares in the company, valued at approximately $4,999,997.30. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Allogene Therapeutics Stock Performance

ALLO stock opened at $2.54 on Friday. The firm’s fifty day moving average is $3.51 and its 200 day moving average is $3.53. The firm has a market cap of $433.96 million, a PE ratio of -1.42 and a beta of 0.90. Allogene Therapeutics, Inc. has a one year low of $2.23 and a one year high of $6.12.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.03. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. Allogene Therapeutics’s revenue for the quarter was down 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.68) EPS. Research analysts predict that Allogene Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in Allogene Therapeutics in the 4th quarter valued at $27,000. EP Wealth Advisors LLC acquired a new stake in shares of Allogene Therapeutics in the third quarter valued at about $34,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $34,000. Axxcess Wealth Management LLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth about $34,000. Finally, Victory Capital Management Inc. purchased a new position in Allogene Therapeutics in the 3rd quarter valued at about $37,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALLO shares. JPMorgan Chase & Co. decreased their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. HC Wainwright dropped their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Stifel Nicolaus raised their target price on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a report on Tuesday, May 14th. Truist Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of Allogene Therapeutics in a report on Wednesday, May 15th. Finally, Oppenheimer reduced their price objective on Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.80.

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 acute lymphoblastic leukemia (ALL).