Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $9.96.

A number of research firms have issued reports on ALLO. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Canaccord Genuity Group decreased their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Citigroup upped 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, Oppenheimer initiated coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of Allogene Therapeutics by 429.6% in the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after acquiring an additional 8,734 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Allogene Therapeutics during the third quarter valued at approximately $34,000. Federated Hermes Inc. acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $29,000. Phoenix Wealth Advisors acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $30,000. Finally, Algert Global LLC acquired a new stake in Allogene Therapeutics during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Trading Up 9.8 %

Allogene Therapeutics stock opened at $2.68 on Tuesday. The firm has a market capitalization of $560.12 million, a P/E ratio of -1.50 and a beta of 0.83. The stock has a fifty day moving average price of $2.69 and a 200 day moving average price of $2.70. Allogene Therapeutics has a 52 week low of $2.01 and a 52 week high of $5.78.

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

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).