Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.73.

ALLO has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research report on Friday, November 8th. William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their price target on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALLO. Federated Hermes Inc. bought a new stake in Allogene Therapeutics during the second quarter worth approximately $29,000. Private Advisor Group LLC acquired a new position in Allogene Therapeutics in the 3rd quarter worth approximately $34,000. Algert Global LLC acquired a new position in Allogene Therapeutics in the 2nd quarter worth approximately $35,000. MML Investors Services LLC acquired a new position in Allogene Therapeutics in the 3rd quarter worth approximately $56,000. Finally, AQR Capital Management LLC acquired a new position in Allogene Therapeutics in the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Stock Performance

Shares of ALLO stock opened at $2.06 on Friday. Allogene Therapeutics has a one year low of $1.78 and a one year high of $5.78. The company’s 50-day simple moving average is $2.32 and its 200-day simple moving average is $2.54. The stock has a market capitalization of $431.92 million, a price-to-earnings ratio of -1.32 and a beta of 0.86.

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).