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

Key Points

• Allogene Therapeutics, Inc. has received an average rating of "Moderate Buy" from analysts, with three hold ratings and nine buy ratings among twelve ratings firms.
• The current average price target for Allogene Therapeutics' shares is $8.44, significantly above its recent trading price of $1.11.
• Institutional investors hold 83.63% of Allogene Therapeutics' stock, indicating strong institutional confidence in the company's future.

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.4444.

ALLO has been the subject of several research analyst reports. Robert W. Baird decreased 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. Citizens Jmp cut shares of Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 14th. Piper Sandler reduced their price objective on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Truist Financial cut their price objective on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, Citigroup cut their price target on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, May 15th.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of Allogene Therapeutics in the first quarter valued at about $28,000. Caption Management LLC acquired a new position in Allogene Therapeutics in the 4th quarter valued at about $32,000. CANADA LIFE ASSURANCE Co grew its stake in Allogene Therapeutics by 142.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company's stock valued at $35,000 after buying an additional 18,314 shares during the last quarter. R Squared Ltd acquired a new position in Allogene Therapeutics in the 2nd quarter valued at about $37,000. Finally, Engineers Gate Manager LP acquired a new position in Allogene Therapeutics in the 2nd quarter valued at about $37,000. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Trading Down 1.3%

Shares of ALLO stock traded down $0.02 on Friday, hitting $1.13. The stock had a trading volume of 473,940 shares, compared to its average volume of 4,297,164. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78. The firm has a market cap of $249.62 million, a P/E ratio of -1.01 and a beta of 0.36. The company has a fifty day moving average price of $1.19 and a two-hundred day moving average price of $1.37.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05. On average, analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

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).