Allogene Therapeutics (NASDAQ:ALLO) Trading 3.1% Higher

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price shot up 3.1% during trading on Wednesday . The company traded as high as $3.02 and last traded at $2.97. 605,199 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 2,524,778 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

A number of analysts have recently issued reports on ALLO shares. Oppenheimer initiated coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective for the company. Canaccord Genuity Group cut their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Citigroup boosted their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Piper Sandler started coverage on Allogene Therapeutics in a research note on Friday, May 31st. They issued an “overweight” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.96.

Allogene Therapeutics Trading Down 2.4 %

The stock has a market cap of $587.29 million, a P/E ratio of -1.58 and a beta of 0.83. The business’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $3.08.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.03. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 50.24%. As a group, analysts expect that Allogene Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after acquiring an additional 8,734 shares during the period. Federated Hermes Inc. bought a new stake in Allogene Therapeutics in the 2nd quarter worth approximately $29,000. Phoenix Wealth Advisors purchased a new stake in Allogene Therapeutics during the 2nd quarter valued at $30,000. Algert Global LLC bought a new position in shares of Allogene Therapeutics during the 2nd quarter valued at $35,000. Finally, Victory Capital Management Inc. increased its position in Allogene Therapeutics by 23.1% during the fourth quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock valued at $46,000 after acquiring an additional 2,680 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).