William Blair Reiterates Outperform Rating for Allogene Therapeutics (NASDAQ:ALLO)

William Blair restated their outperform rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research note released on Thursday morning,RTT News reports.

A number of other equities analysts also recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Canaccord Genuity Group lowered their target price 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. Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday. Oppenheimer assumed coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, Citigroup upped their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.73.

Allogene Therapeutics Trading Down 7.7 %

Shares of ALLO stock opened at $2.27 on Thursday. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The stock has a market capitalization of $475.95 million, a P/E ratio of -1.46 and a beta of 0.84. The firm’s 50 day moving average is $2.75 and its 200 day moving average is $2.65.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new stake in shares of Allogene Therapeutics during the 2nd quarter worth approximately $6,349,000. Lynx1 Capital Management LP bought a new stake in Allogene Therapeutics in the second quarter worth $5,192,000. Price T Rowe Associates Inc. MD lifted its position in Allogene Therapeutics by 76.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of Allogene Therapeutics in the 3rd quarter worth $1,446,000. 83.63% of the stock is owned by institutional investors.

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).