Arie Belldegrun Purchases 155,039 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) Stock

Allogene Therapeutics, Inc. (NASDAQ:ALLO) Director Arie Belldegrun acquired 155,039 shares of the company’s stock in a transaction that occurred on Wednesday, January 12th. The stock was bought at an average price of $12.60 per share, with a total value of $1,953,491.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of NASDAQ ALLO opened at $13.28 on Friday. Allogene Therapeutics, Inc. has a 1-year low of $11.54 and a 1-year high of $39.12. The company has a fifty day moving average price of $16.53 and a 200 day moving average price of $20.27.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, November 4th. The company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.01). The company had revenue of $0.05 million for the quarter. During the same period last year, the firm posted ($0.52) earnings per share. Sell-side analysts expect that Allogene Therapeutics, Inc. will post -1.98 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in Allogene Therapeutics during the 2nd quarter worth about $48,000. Advisory Services Network LLC bought a new stake in Allogene Therapeutics during the 2nd quarter worth about $102,000. FORA Capital LLC bought a new stake in Allogene Therapeutics during the 2nd quarter worth about $107,000. Amundi bought a new stake in Allogene Therapeutics during the 2nd quarter worth about $132,000. Finally, AGF Investments Inc. bought a new stake in Allogene Therapeutics during the 2nd quarter worth about $192,000. 76.34% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. Cowen assumed coverage on shares of Allogene Therapeutics in a report on Wednesday, October 20th. They set an “outperform” rating for the company. Royal Bank of Canada lowered their target price on shares of Allogene Therapeutics from $45.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, December 14th. They noted that the move was a valuation call. Oppenheimer lowered their target price on shares of Allogene Therapeutics from $44.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, October 8th. JMP Securities reaffirmed a “buy” rating and set a $27.00 target price on shares of Allogene Therapeutics in a report on Friday, December 17th. Finally, Guggenheim lowered their target price on shares of Allogene Therapeutics from $40.00 to $35.00 in a report on Tuesday, January 4th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Allogene Therapeutics has an average rating of “Buy” and a consensus price target of $35.40.

About Allogene Therapeutics

Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.

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