Allogene Therapeutics (NASDAQ:ALLO) Earns Outperform Rating from William Blair

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

A number of other brokerages have also recently commented on ALLO. Canaccord Genuity Group dropped their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th. Citigroup upped their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and issued a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Finally, Oppenheimer initiated coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $9.73.

Allogene Therapeutics Stock Down 7.3 %

Shares of NASDAQ ALLO traded down $0.18 during midday trading on Thursday, reaching $2.28. 1,658,868 shares of the stock traded hands, compared to its average volume of 2,460,508. The company’s 50 day moving average is $2.75 and its 200 day moving average is $2.66. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78.

Institutional Investors Weigh In On Allogene Therapeutics

Large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its stake in shares of Allogene Therapeutics by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock valued at $1,361,000 after buying an additional 5,642 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Allogene Therapeutics by 85.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company’s stock worth $79,000 after purchasing an additional 8,162 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Allogene Therapeutics by 429.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after purchasing an additional 8,734 shares in the last quarter. Arizona State Retirement System increased its holdings in Allogene Therapeutics by 36.1% during the second quarter. Arizona State Retirement System now owns 40,915 shares of the company’s stock valued at $95,000 after buying an additional 10,855 shares during the period. Finally, Private Advisor Group LLC bought a new position in Allogene Therapeutics in the third quarter worth approximately $34,000. 83.63% of the stock is owned by hedge funds and other 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).