Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.96 Consensus PT from Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.96.

ALLO has been the topic of a number of research reports. Citigroup lifted their price target on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday. 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 research report on Friday, August 9th. Oppenheimer initiated coverage on shares of 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, Canaccord Genuity Group cut their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $2.72 on Tuesday. Allogene Therapeutics has a twelve month low of $2.01 and a twelve month high of $5.78. The firm’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $2.68. The firm has a market cap of $568.78 million, a P/E ratio of -1.69 and a beta of 0.84.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 50.24%. On average, sell-side analysts anticipate that Allogene Therapeutics will post -1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Allogene Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 40,219 shares of the company’s stock valued at $113,000 after purchasing an additional 15,690 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Allogene Therapeutics in the third quarter valued at $34,000. Creative Planning increased its holdings in shares of Allogene Therapeutics by 108.7% in the third quarter. Creative Planning now owns 61,396 shares of the company’s stock valued at $172,000 after purchasing an additional 31,984 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Allogene Therapeutics by 25.5% in the third quarter. Exchange Traded Concepts LLC now owns 60,675 shares of the company’s stock valued at $170,000 after acquiring an additional 12,328 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Allogene Therapeutics by 252.7% in the third quarter. SG Americas Securities LLC now owns 46,967 shares of the company’s stock valued at $132,000 after acquiring an additional 33,651 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).