HC Wainwright Reiterates “Buy” Rating for Allogene Therapeutics (NASDAQ:ALLO)

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

Other analysts have also recently issued research reports about the company. Truist Financial reissued a “buy” rating and set a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Oppenheimer initiated coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective on the stock. Canaccord Genuity Group lowered their price target on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Citigroup raised their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on 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 $2.72 on Wednesday. The stock’s 50-day simple moving average is $2.69 and its 200 day simple moving average is $2.68. The stock has a market capitalization of $568.78 million, a price-to-earnings ratio of -1.69 and a beta of 0.83. Allogene Therapeutics has a 52-week low of $2.01 and a 52-week high of $5.78.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data 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 return on equity of 50.24% and a negative net margin of 223,139.98%. On average, research analysts forecast that Allogene Therapeutics will post -1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently modified their holdings of ALLO. Mirae Asset Global Investments Co. Ltd. lifted its position in Allogene Therapeutics by 85.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company’s stock worth $1,768,000 after buying an additional 166,433 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Allogene Therapeutics in the 1st quarter worth approximately $1,280,000. Headlands Technologies LLC bought a new stake in Allogene Therapeutics in the 1st quarter worth approximately $78,000. CANADA LIFE ASSURANCE Co lifted its position in Allogene Therapeutics by 85.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company’s stock worth $79,000 after buying an additional 8,162 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted 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 worth $18,675,000 after buying an additional 1,806,147 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).