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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.96.

A number of equities research analysts recently issued reports on the company. Oppenheimer initiated coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. Canaccord Genuity Group dropped their price target 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. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a research note on Thursday, August 15th. Truist Financial reissued a “buy” rating and set a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Finally, Piper Sandler began coverage on Allogene Therapeutics in a report on Friday, May 31st. They issued an “overweight” rating and a $11.00 price target for the company.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALLO. Nisa Investment Advisors LLC increased its stake in Allogene Therapeutics by 429.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after acquiring an additional 8,734 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Allogene Therapeutics during the second quarter worth about $29,000. Phoenix Wealth Advisors bought a new position in shares of Allogene Therapeutics in the second quarter worth approximately $30,000. Algert Global LLC purchased a new stake in Allogene Therapeutics in the second quarter valued at approximately $35,000. Finally, Victory Capital Management Inc. lifted its position in Allogene Therapeutics by 23.1% during the fourth quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock valued at $46,000 after purchasing an additional 2,680 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Up 2.8 %

Shares of ALLO stock opened at $2.91 on Monday. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The company has a 50 day moving average of $2.65 and a 200-day moving average of $3.14. The firm has a market cap of $608.19 million, a P/E ratio of -1.63 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results 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%. As a group, equities analysts expect that Allogene Therapeutics will post -1.38 EPS for the current year.

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).