Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have been given an average rating of "Moderate Buy" by the ten brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.44.

A number of research analysts have recently weighed in on ALLO shares. Piper Sandler cut their price target on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Truist Financial dropped their price objective on shares of Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Citigroup dropped their price objective on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, May 15th. Robert W. Baird decreased their target price on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Wednesday, May 14th.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO traded up $0.01 during trading hours on Thursday, hitting $1.25. The stock had a trading volume of 3,703,347 shares, compared to its average volume of 3,278,850. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78. The firm has a market capitalization of $273.41 million, a price-to-earnings ratio of -1.02 and a beta of 0.31. The stock's fifty day simple moving average is $1.22 and its 200 day simple moving average is $1.57.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.28). As a group, research analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gilead Sciences Inc. acquired a new position in Allogene Therapeutics during the fourth quarter worth $2,464,000. Charles Schwab Investment Management Inc. raised its position in shares of Allogene Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock valued at $2,532,000 after purchasing an additional 9,990 shares during the period. Cibc World Markets Corp bought a new position in shares of Allogene Therapeutics in the fourth quarter valued at about $26,000. Two Sigma Advisers LP increased its position in Allogene Therapeutics by 12.1% during the fourth quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock worth $5,756,000 after acquiring an additional 291,800 shares during the period. Finally, DAFNA Capital Management LLC increased its position in Allogene Therapeutics by 18.1% during the fourth quarter. DAFNA Capital Management LLC now owns 1,240,118 shares of the company's stock worth $2,641,000 after acquiring an additional 190,000 shares during the period. 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).