How to Buy Allogene Therapeutics Stock [2024]

Summary: Allogene Therapeutics, a clinical-stage biotech company, is publicly listed on the NASDAQ Exchange with the ticker ALLO. You can buy Allogene Therapeutics stock with online trading platforms like eToro.

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About Allogene Therapeutics

Allogene Therapeutics’ homepage. Source: Alloigone.com

Allogene Therapeutics, Inc. (NASDAQ: ALLO) is a California-based clinical-stage immuno-oncology company that develops genetically engineered allogeneic T cell therapies for cancer treatment.

Established in 2017, the company’s trailblazing endeavors include the development, manufacturing, and commercialization of breakthrough therapies such as:

UCART19: An allogeneic chimeric antigen receptor (CAR) T cell candidate designed to combat both pediatric and adult R/R CD19 positive B-cell ALL;
ALLO-501 & ALLO-501A: Anti-CD19 allogeneic CAR T cell candidates undergoing Phase I and Phase I/II clinical trials, respectively. While ALLO-501 targets R/R non-Hodgkin lymphoma, ALLO-501A is being explored for its potential in treating R/R large B-cell lymphoma or transformed follicular lymphoma;
ALLO-715: In its Phase I clinical trial, this allogeneic CAR T cell candidate is set to treat R/R multiple myeloma;
ALLO-605: Another promising candidate being explored for the treatment of multiple myeloma;
ALLO-647: An anti-CD52 monoclonal antibody;
CD70: Under investigation to treat renal cell cancer.
ALLO-316: An allogeneic CAR T cell candidate developed to treat immune checkpoint inhibitors;
DLL3: Aimed at treating small cell lung cancer and aggressive neuroendocrine tumors;
Claudin 18.2: Targeting gastric and pancreatic cancers.

Allogene Therapeutics is listed on the Nasdaq Exchange under the ticker ALLO.

How to buy Allogene Therapeutics stock? Step-by-step process

Follow these four steps to buy Allogene Therapeutics stock:

Select an online broker;
Set up and fund your account;
Purchase ALLO shares;
Periodically monitor and adjust your investment as necessary.

Step 1: Choose a broker

To buy Allogene Therapeutics stock, begin by selecting a dependable online broker.

From our assessment, eToro stands out as the best choice for investing in ALLO and will offer you the following:

Commission-free stock trading;
2,000+ stocks from 17 exchanges;
Fractional shares available;
User-friendly platform.

Highly Rated Stock Trading & Investing Platform

Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.

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For those looking to avoid the inherent volatility of biotech penny stocks, consider these established biotech companies instead:

Pfizer (NYSE: PFE);
Moderna (NASDAQ: MRNA);
Sanofi (NASDAQ: SNY);
Eli Lilly (NYSE: LLY);
Biogen (NASDAQ: BIIB);
Amgen (NASDAQ: AMGN);
Gilead Sciences (NASDAQ: GILD);
Bayer (FWB: BAYN);
Thermo Fisher Scientific (NYSE: TMO).

How to find the best online broker?

Consider the following aspects when selecting a broker:

Regulation: Ensure the broker is regulated by a recognized financial authority;
Fee structure: Understand all associated fees, including commission, spreads, and any hidden costs;
Trading platform: Check the usability, features, and reliability of their platform;
Product offerings: Confirm they provide access to the assets or markets you’re interested in;
Fractional shares: Determine if the broker offers fractional share trading, which allows you to invest by the dollar amount;
Account types: Evaluate the types of accounts they offer, such as margin or retirement accounts;
Security: Ensure robust security measures to protect your assets and data;
Research and education: Look for valuable research tools, educational resources, and market analysis.

Step 2: Open and fund your account

After choosing your broker, sign up on their platform. Once your account has been approved, you can fund it using your preferred method, e.g., a bank transfer, credit card, or a third-party payment system like PayPal.

Step 3: Place your order and invest in ALLO

To buy Allogene Therapeutics stock:

Search for Allogene Therapeutics by its ticker symbol ALLO;
Choose your order type, either a market order for immediate purchase or a limit order at a specified price;
Set your investment amount in dollars or the number of shares;
Review all details carefully before finalizing the transaction.

Step 4: Monitor your investment

To monitor your investment in Allogene Therapeutics:

Set up alerts for Allogene Therapeutics news and stock price changes;
Regularly review the company’s financial statements and announcements;
Track broader trends in the biotechnology sector;
Use your broker’s analytical tools for insights;
Periodically re-evaluate the stock’s performance against your investment goals.

Allogene Therapeutics stock price today

Pros and cons of investing in Allogene Therapeutics

Pros

Diverse product pipeline: The company has several product candidates at different stages of development, diversifying potential future revenue streams;
Collaborations and partnerships: Allogene has collaborations with major industry players like Pfizer, Servier, and Cellectis, which can facilitate resources, knowledge, and potential market reach;
Addressing high-need areas: The company is working on therapies for hard-to-treat cancers, which, if successful, can address significant unmet medical needs.

Cons

Clinical stage risks: As a clinical-stage company, there’s always the risk that its products may not successfully complete clinical trials or gain regulatory approval;
Financial uncertainty: Like many biotech firms, Allogene might operate at a loss until one or more of its therapies gets commercialized;
Regulatory challenges: Gaining FDA approval for treatments, especially innovative ones, is a long, expensive, and uncertain process;
Competition: The oncology and immuno-oncology sectors are highly competitive, with many companies working on similar treatments;
Penny stock volatility: Allogene Therapeutics may exhibit higher price volatility and offer lower liquidity as a penny stock. This can lead to greater price swings, making the investment more unpredictable and potentially increasing the risk of loss for investors.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Allogene Therapeutics stock