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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.44.

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

Allogene Therapeutics Trading Down 4.7%

NASDAQ:ALLO traded down $0.06 during mid-day trading on Friday, reaching $1.23. The company's stock had a trading volume of 3,627,805 shares, compared to its average volume of 3,273,954. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $3.78. The firm's fifty day moving average price is $1.33 and its two-hundred day moving average price is $1.68. The stock has a market cap of $269.04 million, a P/E ratio of -1.00 and a beta of 0.31.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). Analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently bought and sold shares of ALLO. Rhumbline Advisers lifted its holdings in Allogene Therapeutics by 10.1% in the fourth quarter. Rhumbline Advisers now owns 191,714 shares of the company's stock valued at $408,000 after acquiring an additional 17,527 shares during the period. Bank of New York Mellon Corp grew its holdings in Allogene Therapeutics by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 330,769 shares of the company's stock valued at $705,000 after buying an additional 13,150 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Allogene Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock valued at $2,532,000 after buying an additional 9,990 shares in the last quarter. Swiss National Bank grew its holdings in Allogene Therapeutics by 8.7% in the 4th quarter. Swiss National Bank now owns 287,900 shares of the company's stock valued at $613,000 after buying an additional 23,000 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Allogene Therapeutics in the 4th quarter valued at $26,000. Hedge funds and other institutional investors 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).