Allogene Therapeutics’ (NASDAQ:ALLO) quiet period will end on Tuesday, November 20th. Allogene Therapeutics had issued 18,000,000 shares in its IPO on October 11th. The total size of the offering was $324,000,000 based on an initial share price of $18.00. During Allogene Therapeutics’ quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of research firms recently commented on ALLO. Goldman Sachs Group began coverage on shares of Allogene Therapeutics in a research note on Monday, November 5th. They issued a “buy” rating and a $41.00 target price for the company. Cowen began coverage on shares of Allogene Therapeutics in a research note on Monday, November 5th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. began coverage on shares of Allogene Therapeutics in a research note on Monday, November 5th. They issued a “neutral” rating and a $29.00 target price for the company. Finally, Jefferies Financial Group began coverage on shares of Allogene Therapeutics in a research note on Monday, November 5th. They issued a “buy” rating and a $31.00 target price for the company.
ALLO stock opened at $27.98 on Friday. Allogene Therapeutics has a 52 week low of $21.67 and a 52 week high of $35.55.
In related news, Director Arie Belldegrun bought 35,000 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $630,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider David D. Chang acquired 40,000 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were acquired at an average price of $18.00 per share, with a total value of $720,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 750,000 shares of company stock valued at $13,500,000 over the last quarter.
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Allogene Therapeutics Company Profile
Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, engages in the research, development, and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, a CAR T cell product candidate targeting CD19, which is in clinical trials in patients with R/R B-cell precursor acute lymphoblastic leukemia; ALLO-501, an allogeneic anti-CD19 CAR T cell product candidate for the treatment of patients with R/R non-Hodgkin lymphoma; ALLO-715, an allogeneic CAR T cell product candidate for the treatment of patients with R/R multiple myeloma; and ALLO-647, an anti-CD52 monoclonal antibody for use as a lymphodepleting agent.
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