Allogene Therapeutics Inc.’s recently made public that its General Counsel Bhavnagri Veer unloaded Company’s shares for reported $20550.0 on Feb 13. In the deal valued at $6.85 per share,3,000 shares were sold. As a result of this transaction, Bhavnagri Veer now holds 577,677 shares worth roughly $ 3.66 million.
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Then, Bhavnagri Veer sold 3,000 shares, generating $21,120 in total proceeds. Upon selling the shares at $7.04, the General Counsel now owns 580,677 shares.
Before that, Bhavnagri Veer sold 5,602 shares. Allogene Therapeutics Inc. shares valued at $42,186 were divested by the General Counsel at a price of $7.53 per share. As a result of the transaction, Bhavnagri Veer now holds 583,677 shares, worth roughly $3.69 million.
JP Morgan upgraded its Allogene Therapeutics Inc. [ALLO] rating to an Overweight from a a Neutral in a research note published on Monday, January 24, 2023; the price target was decreased to $11 from $20. PT values the company’s stock at a premium of 42.45 to its Monday closing price. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “an Outperform”. BofA Securities also remained covering ALLO and has decreased its forecast on December 12, 2022 with a “an Underperform” recommendation from previously “Buy” rating. Raymond James revised its rating on August 10, 2022. It rated ALLO as “a Mkt perform” which previously was an “an Outperform”.
Price Performance Review of ALLO
On Monday, Allogene Therapeutics Inc. [NASDAQ:ALLO] saw its stock jump 2.26% to $6.33. On the same session, the stock had its day’s lowest price of $6.205, but rose to a high of $6.4091. Over the last five days, the stock has lost -12.08%. Allogene Therapeutics Inc. shares have risen nearly 0.64% since the year began. Nevertheless, the stocks have fallen -31.57% over the past one year. While a 52-week high of $17.49 was reached on 01/27/23, a 52-week low of $5.41 was recorded on 01/05/23. SMA at 50 days reached $6.82, while 200 days put it at $10.18. A total of 1.41 million shares were traded, compared to the trading of 2.14 million shares in the previous session.
Levels Of Support And Resistance For ALLO Stock
The 24-hour chart illustrates a support level at 6.22, which if violated will result in even more drops to 6.11. On the upside, there is a resistance level at 6.42. A further resistance level may holdings at 6.52. The Relative Strength Index (RSI) on the 14-day chart is 38.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.63%. Stochastics %K at 12.38% indicates the stock is a buying.
How much short interest is there in Allogene Therapeutics Inc.?
A steep rise in short interest was recorded in Allogene Therapeutics Inc. stocks on Jan 30, 2023, growing by 0.98 million shares to a total of 34.41 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 33.43 million shares. There was a rise of 2.85%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 38.14% of the overall stock float, the days-to-cover ratio (short ratio) rose to 16.72.
Allogene Therapeutics Inc. [ALLO] – Who Are The Largest Shareholders?
In filings from SSgA Funds Management, Inc., it is revealed that the company now owns 9,166,408 shares, or roughly 6.36% of the outstanding ALLO shares. In other words, the investor’s shares have risen by 2,486,111 from its previous 13-F filing of 6680297.0. Additionally, The Vanguard Group, Inc. increased 1.46% of its stake after which the total value it holdings stand at $55,046,186, while BlackRock Fund Advisors added 11.95% of its stake to hold $53.61 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. purchased 34,481 shares of Allogene Therapeutics Inc., while Capital Research & Management Co bought 0 shares. At present, PRIMECAP Management Co. is holding 4,943,916 shares valued at $38.17 million. EcoR1 Capital, LLC owned 4,488,200 shares of the company at the time of its most recent 13F filing, worth $34.65 million.
According to FactSet, Allogene Therapeutics Inc.’s share price will average $22.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 174.64 percent from its previous closing price of $6.19. Analysts expect Allogene Therapeutics Inc. stock to reach the higher price of $55.00, while the lowest price estimate is $6.00. However, 19 analysts have rated ALLO stock as an Overweight in their predictions for 2023.