Allogene Therapeutics (NASDAQ:ALLO) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report released on Wednesday morning, Benzinga reports. They currently have a $9.00 target price on the stock.

ALLO has been the subject of several other reports. Canaccord Genuity Group dropped their target price on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Truist Financial restated a “buy” rating and issued a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Oppenheimer began coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Stock Up 6.5 %

Shares of ALLO stock opened at $2.72 on Wednesday. The company has a market capitalization of $568.78 million, a PE ratio of -1.69 and a beta of 0.84. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The firm has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.68.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Allogene Therapeutics will post -1.38 EPS for the current year.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position 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 purchasing an additional 8,734 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Allogene Therapeutics during the 2nd quarter valued at approximately $29,000. Phoenix Wealth Advisors purchased a new stake in Allogene Therapeutics in the second quarter worth $30,000. Private Advisor Group LLC bought a new stake in shares of Allogene Therapeutics in the third quarter valued at $34,000. Finally, Algert Global LLC bought a new stake in Allogene Therapeutics in the 2nd quarter valued at about $35,000. Hedge funds and other 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).