Allogene Therapeutics (NASDAQ:ALLO) Stock Rating Reaffirmed by Truist Financial

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Truist Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $17.00 price target on the stock. Truist Financial's price objective suggests a potential upside of 470.47% from the company's current price.

ALLO has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a "hold" rating in a research note on Tuesday. Royal Bank of Canada reissued an "outperform" rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. JPMorgan Chase & Co. decreased their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set an "overweight" rating for the company in a research report on Tuesday, February 27th. Finally, HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.09.

Allogene Therapeutics Stock Performance

ALLO stock traded up $0.02 during mid-day trading on Wednesday, reaching $2.98. 3,479,436 shares of the stock traded hands, compared to its average volume of 2,510,524. The business has a 50-day moving average price of $3.79 and a two-hundred day moving average price of $3.54. The stock has a market capitalization of $508.75 million, a PE ratio of -1.66 and a beta of 0.90. Allogene Therapeutics has a one year low of $2.23 and a one year high of $6.61.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.41) by $0.03. Allogene Therapeutics had a negative net margin of 223,139.98% and a negative return on equity of 48.33%. The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. During the same period in the prior year, the firm earned ($0.68) earnings per share. The firm's revenue for the quarter was down 26.7% compared to the same quarter last year. On average, equities analysts expect that Allogene Therapeutics will post -1.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company's stock worth $18,675,000 after buying an additional 1,806,147 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Allogene Therapeutics by 85.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company's stock worth $79,000 after purchasing an additional 8,162 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Allogene Therapeutics during the 1st quarter worth approximately $78,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Allogene Therapeutics during the 1st quarter worth approximately $1,280,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Allogene Therapeutics by 85.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company's stock worth $1,768,000 after purchasing an additional 166,433 shares during the period. Institutional investors and hedge funds 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).