Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) PT at $9.73

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.73.

Several research firms have weighed in on ALLO. Piper Sandler cut their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Finally, 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.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Allogene Therapeutics by 1.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock worth $1,361,000 after acquiring an additional 5,642 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Allogene Therapeutics by 429.6% in the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after purchasing an additional 8,734 shares in the last quarter. Arizona State Retirement System lifted its position in Allogene Therapeutics by 36.1% in the second quarter. Arizona State Retirement System now owns 40,915 shares of the company’s stock worth $95,000 after purchasing an additional 10,855 shares during the period. Private Advisor Group LLC acquired a new stake in Allogene Therapeutics during the third quarter worth $34,000. Finally, Federated Hermes Inc. bought a new stake in Allogene Therapeutics in the 2nd quarter valued at $29,000. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Trading Up 1.6 %

Allogene Therapeutics stock opened at $1.87 on Wednesday. Allogene Therapeutics has a 1-year low of $1.78 and a 1-year high of $5.78. The firm’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $2.57. The company has a market capitalization of $392.09 million, a P/E ratio of -1.20 and a beta of 0.83.

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).