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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine 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 $9.73.

Several analysts have recently issued reports on the stock. 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. Oppenheimer began coverage on shares of Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price target for the company. Truist Financial restated a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Canaccord Genuity Group reduced their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a research note on Friday, November 8th.

Allogene Therapeutics Trading Down 0.8 %

ALLO stock opened at $2.48 on Friday. The company has a market capitalization of $519.98 million, a PE ratio of -1.60 and a beta of 0.84. The business’s fifty day moving average price is $2.65 and its 200 day moving average price is $2.62. Allogene Therapeutics has a 12-month low of $1.99 and a 12-month high of $5.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $6,349,000. Lynx1 Capital Management LP acquired a new position in Allogene Therapeutics in the second quarter valued at $5,192,000. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 worth $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Allogene Therapeutics by 340.4% during the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after purchasing an additional 1,351,055 shares in the last quarter. Finally, Zacks Investment Management purchased a new stake in shares of Allogene Therapeutics in the 3rd quarter valued at about $1,446,000. 83.63% of the stock is 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).