Analysts Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $9.73

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.73.

Several research firms have recently commented on ALLO. Citigroup lifted their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Oppenheimer initiated coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a report on Friday, November 8th. Truist Financial reiterated a “buy” rating and set a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Finally, William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th.

Allogene Therapeutics Stock Up 3.2 %

Shares of NASDAQ:ALLO opened at $2.28 on Friday. The stock has a market cap of $478.05 million, a PE ratio of -1.46 and a beta of 0.84. The company’s fifty day moving average is $2.68 and its 200 day moving average is $2.62. Allogene Therapeutics has a 52 week low of $1.99 and a 52 week high of $5.78.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in Allogene Therapeutics by 76.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Allogene Therapeutics by 340.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after buying an additional 1,351,055 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Allogene Therapeutics by 24.8% in 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in Allogene Therapeutics by 70.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after acquiring an additional 198,231 shares during the period. Finally, Primecap Management Co. CA boosted its stake in Allogene Therapeutics by 4.1% during the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after acquiring an additional 221,840 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

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).