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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $9.96.

ALLO has been the topic of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $14.00 target price (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Canaccord Genuity Group lowered their target price on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Oppenheimer initiated coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a report on Thursday, August 15th. Finally, Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Allogene Therapeutics Stock Up 11.3 %

NASDAQ ALLO opened at $2.96 on Monday. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The company has a market capitalization of $618.64 million, a PE ratio of -1.65 and a beta of 0.83. The firm’s 50 day moving average is $2.68 and its 200-day moving average is $3.13.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) 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%. As a group, sell-side analysts expect that Allogene Therapeutics will post -1.38 EPS for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ALLO. Perceptive Advisors LLC bought a new stake in shares of Allogene Therapeutics in the second quarter valued at about $6,349,000. Algert Global LLC bought a new stake in shares of Allogene Therapeutics in the second quarter valued at about $35,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Allogene Therapeutics by 46.2% in the second quarter. Susquehanna Fundamental Investments LLC now owns 418,699 shares of the company’s stock valued at $976,000 after acquiring an additional 132,291 shares during the period. Lynx1 Capital Management LP bought a new stake in shares of Allogene Therapeutics in the second quarter valued at about $5,192,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Allogene Therapeutics by 70.3% in the second quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after acquiring an additional 198,231 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).