Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $8.5222.

A number of analysts have recently commented on the company. Argus upped their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research note on Tuesday, April 14th. Piper Sandler lifted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Citigroup reissued an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday, April 14th. Citizens Jmp upped their price objective on Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 14th. Finally, Robert W. Baird raised their price objective 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.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors have recently modified their holdings of ALLO. Kestra Private Wealth Services LLC acquired a new position in Allogene Therapeutics in the 1st quarter worth about $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 acquired a new stake in Allogene Therapeutics in the first quarter valued at approximately $40,000. Essential Partners LLC increased its position in shares of Allogene Therapeutics by 525.9% in the first quarter. Essential Partners LLC now owns 19,410 shares of the company’s stock valued at $47,000 after buying an additional 16,309 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after buying an additional 21,650 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $2.11 on Thursday. The business has a fifty day moving average of $2.09 and a 200 day moving average of $2.02. Allogene Therapeutics has a 1 year low of $0.98 and a 1 year high of $4.46. The firm has a market capitalization of $728.27 million, a price-to-earnings ratio of -2.74 and a beta of 0.46.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, equities research analysts expect that Allogene Therapeutics will post -0.7 earnings per share for the current year.

About Allogene Therapeutics

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.