Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.96 Average Target Price from Brokerages

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 price objective among analysts that have issued a report on the stock in the last year is $9.96.

Several research firms recently issued reports on ALLO. Oppenheimer began coverage on shares of Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 target price on the stock. Truist Financial reissued a “buy” rating and set a $14.00 price objective (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Thursday, August 15th. Canaccord Genuity Group cut their target price on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Citigroup raised their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Allogene Therapeutics Trading Up 3.4 %

NASDAQ:ALLO opened at $2.70 on Friday. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The firm has a market cap of $564.30 million, a price-to-earnings ratio of -1.51 and a beta of 0.83. The company’s 50-day moving average is $2.64 and its two-hundred day moving average is $2.88.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts forecast that Allogene Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ALLO. Primecap Management Co. CA grew its holdings in shares of Allogene Therapeutics by 4.1% during the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock valued at $13,212,000 after purchasing an additional 221,840 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 buying an additional 1,806,147 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $6,349,000. Dimensional Fund Advisors LP boosted its stake in Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after purchasing an additional 507,021 shares in the last quarter. Finally, Lynx1 Capital Management LP acquired a new position in Allogene Therapeutics during the second quarter worth about $5,192,000. 83.63% of the stock is owned by institutional investors.

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).