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

Key Points

• Analysts give Allogene Therapeutics a “Moderate Buy” consensus rating: Eight analysts recommend buying the stock, one strongly recommends it, three rate it a hold, and one recommends selling. The average 12-month price target is $8.52.
• Several brokerages recently raised their price targets, including Jefferies to $10, Baird to $9, and Citizens JMP to $8, while JPMorgan upgraded the stock from underweight to neutral.
• ALLO opened at $1.74, well below its one-year high of $4.46, and reported a quarterly loss of $0.18 per share—slightly better than the $0.19 consensus estimate. Institutional investors own 83.63% of the company.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.5222.

ALLO has been the subject of several research analyst reports. Citizens Jmp lifted their price objective on shares of Allogene Therapeutics from $5.00 to $8.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 14th. Robert W. Baird increased their target price on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. JPMorgan Chase & Co. raised shares of Allogene Therapeutics from an "underweight" rating to a "neutral" rating in a research note on Thursday, April 16th. Jefferies Financial Group raised their price target on shares of Allogene Therapeutics from $6.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Finally, Argus lifted their price target on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the company a "market perform" rating in a research note on Tuesday, April 14th.

Institutional Trading of Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Kestra Private Wealth Services LLC acquired a new position in Allogene Therapeutics during the 1st quarter worth approximately $27,000. Bull Harbor Capital LLC acquired a new stake in Allogene Therapeutics in the first quarter valued at approximately $31,000. Krilogy Financial LLC bought a new stake in shares of Allogene Therapeutics during the first quarter valued at approximately $40,000. Essential Partners LLC increased its holdings in shares of Allogene Therapeutics by 525.9% during the first quarter. Essential Partners LLC now owns 19,410 shares of the company's stock valued at $47,000 after acquiring an additional 16,309 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company's stock worth $27,000 after purchasing an additional 21,650 shares during the period. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $1.74 on Monday. The business has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $2.09. Allogene Therapeutics has a one year low of $0.98 and a one year high of $4.46. The stock has a market capitalization of $600.56 million, a P/E ratio of -2.26 and a beta of 0.46.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.01. Equities analysts expect that Allogene Therapeutics will post -0.7 earnings per share for the current year.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company's pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.

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