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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.73.

ALLO has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research report on Friday, November 8th. Finally, Piper Sandler dropped their price objective on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th.

Allogene Therapeutics Price Performance

Shares of Allogene Therapeutics stock opened at $1.84 on Friday. The firm has a market cap of $385.79 million, a price-to-earnings ratio of -1.18 and a beta of 0.86. Allogene Therapeutics has a one year low of $1.78 and a one year high of $5.78. The stock’s 50-day moving average is $2.22 and its 200-day moving average is $2.52.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Allogene Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock valued at $1,361,000 after acquiring an additional 5,642 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Allogene Therapeutics by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock valued at $986,000 after purchasing an additional 9,635 shares during the period. Arizona State Retirement System grew its position in shares of Allogene Therapeutics by 36.1% during the 2nd quarter. Arizona State Retirement System now owns 40,915 shares of the company’s stock worth $95,000 after purchasing an additional 10,855 shares in the last quarter. Private Advisor Group LLC bought a new position in shares of Allogene Therapeutics during the third quarter worth approximately $34,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Allogene Therapeutics in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).