Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $8.44

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.44.

ALLO has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. HC Wainwright cut their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Citigroup reduced their price target 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. Royal Bank Of Canada restated an "outperform" rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. Finally, Truist Financial reduced their target price on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th.

Allogene Therapeutics Price Performance

NASDAQ:ALLO traded down $0.01 during midday trading on Friday, hitting $1.24. 1,460,835 shares of the company were exchanged, compared to its average volume of 3,252,068. The company has a fifty day simple moving average of $1.32 and a 200 day simple moving average of $1.67. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78.

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

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ALLO. Cibc World Markets Corp acquired a new position in shares of Allogene Therapeutics during the fourth quarter worth $26,000. PAX Financial Group LLC purchased a new position in Allogene Therapeutics in the 4th quarter valued at about $27,000. RPO LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $31,000. Caption Management LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $32,000. Finally, Syon Capital LLC acquired a new position in shares of Allogene Therapeutics in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Company Profile

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).