Private Advisor Group LLC Takes Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Private Advisor Group LLC purchased a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,087 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Allogene Therapeutics by 429.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after buying an additional 8,734 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Allogene Therapeutics in the second quarter worth approximately $29,000. Phoenix Wealth Advisors bought a new position in Allogene Therapeutics during the second quarter valued at about $30,000. Algert Global LLC bought a new position in shares of Allogene Therapeutics during the 2nd quarter valued at about $35,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Allogene Therapeutics during the 2nd quarter valued at $52,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLO has been the topic of a number of research analyst reports. Oppenheimer began coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price target on the stock. Truist Financial restated a “buy” rating and issued a $14.00 price objective (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Citigroup increased their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group decreased their price target on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Friday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.96.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $3.08 on Friday. The stock has a fifty day moving average price of $2.74 and a two-hundred day moving average price of $2.66. Allogene Therapeutics, Inc. has a 52-week low of $2.01 and a 52-week high of $5.78. The company has a market cap of $644.06 million, a price-to-earnings ratio of -1.91 and a beta of 0.84.

Allogene Therapeutics (NASDAQ:ALLO) last released its 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 net margin of 223,139.98% and a negative return on equity of 50.24%. As a group, research analysts predict that Allogene Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

About Allogene Therapeutics

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).