Allogene Therapeutics (NASDAQ:ALLO) PT Lowered to $29.00 at HC Wainwright

Allogene Therapeutics (NASDAQ:ALLOGet Rating) had its target price decreased by HC Wainwright from $43.00 to $29.00 in a research report sent to investors on Monday, The Fly reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Allogene Therapeutics’ Q4 2022 earnings at ($0.77) EPS, FY2022 earnings at ($2.44) EPS, Q1 2023 earnings at ($0.70) EPS, Q2 2023 earnings at ($0.73) EPS, Q3 2023 earnings at ($0.76) EPS, Q4 2023 earnings at ($0.79) EPS and FY2023 earnings at ($3.00) EPS.

ALLO has been the subject of several other research reports. Raymond James cut shares of Allogene Therapeutics from an outperform rating to a market perform rating in a report on Wednesday, August 10th. Truist Financial cut their price objective on shares of Allogene Therapeutics to $29.00 in a research report on Tuesday, August 23rd. JMP Securities reiterated a buy rating and issued a $23.00 price target on shares of Allogene Therapeutics in a report on Tuesday, September 27th. B. Riley dropped their target price on shares of Allogene Therapeutics from $21.00 to $18.00 and set a buy rating for the company in a report on Thursday, September 22nd. Finally, Oppenheimer decreased their price target on shares of Allogene Therapeutics to $32.00 in a research note on Thursday, October 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $25.70.

Allogene Therapeutics Stock Performance

ALLO opened at $10.60 on Monday. The company has a fifty day moving average of $10.50 and a two-hundred day moving average of $11.42. Allogene Therapeutics has a fifty-two week low of $6.43 and a fifty-two week high of $19.25. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.82 and a beta of 0.59.

Allogene Therapeutics (NASDAQ:ALLOGet Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.04. Allogene Therapeutics had a negative net margin of 126,580.16% and a negative return on equity of 37.74%. During the same quarter last year, the firm earned ($0.57) EPS. On average, equities research analysts forecast that Allogene Therapeutics will post -2.38 earnings per share for the current year.

Institutional Trading of Allogene Therapeutics

Several large investors have recently made changes to their positions in ALLO. SG Americas Securities LLC lifted its stake in Allogene Therapeutics by 45.3% in the first quarter. SG Americas Securities LLC now owns 179,618 shares of the company’s stock valued at $1,636,000 after buying an additional 55,994 shares during the period. Victory Capital Management Inc. boosted its stake in Allogene Therapeutics by 13.3% in the 1st quarter. Victory Capital Management Inc. now owns 14,335 shares of the company’s stock valued at $120,000 after purchasing an additional 1,688 shares during the period. Russell Investments Group Ltd. bought a new stake in Allogene Therapeutics in the 1st quarter valued at $321,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Allogene Therapeutics by 1.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 156,700 shares of the company’s stock valued at $1,428,000 after purchasing an additional 1,874 shares during the period. Finally, Swiss National Bank raised its holdings in Allogene Therapeutics by 7.8% in the 1st quarter. Swiss National Bank now owns 185,400 shares of the company’s stock valued at $1,689,000 after acquiring an additional 13,400 shares in the last quarter. Institutional investors own 84.81% of the company’s stock.

About Allogene Therapeutics

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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 ALL.

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