Allogene Therapeutics’ (ALLO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $9.00 price objective on the stock.

ALLO has been the topic of several other reports. Canaccord Genuity Group reduced their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer began coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Finally, Citigroup boosted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.96.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $2.72 on Wednesday. The business’s 50 day simple moving average is $2.69 and its 200 day simple moving average is $2.68. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78. The stock has a market capitalization of $568.78 million, a PE ratio of -1.69 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate 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, research analysts expect that Allogene Therapeutics will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors have recently bought and sold shares of ALLO. Perceptive Advisors LLC bought a new position in Allogene Therapeutics in the 2nd quarter valued at $6,349,000. Lynx1 Capital Management LP bought a new position in Allogene Therapeutics in the 2nd quarter valued at $5,192,000. Price T Rowe Associates Inc. MD grew its stake in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during the period. Renaissance Technologies LLC grew its stake in Allogene Therapeutics by 340.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock valued at $4,073,000 after purchasing an additional 1,351,055 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after acquiring an additional 507,021 shares during the period. Institutional investors own 83.63% of the company’s stock.

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).