Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLOGet Rating) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $22.11.

Several equities analysts have commented on the stock. B. Riley decreased their target price on shares of Allogene Therapeutics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd. Bank of America lowered shares of Allogene Therapeutics from a “buy” rating to an “underperform” rating and decreased their price target for the company from $24.00 to $9.00 in a report on Monday, December 12th. Robert W. Baird raised shares of Allogene Therapeutics from a “neutral” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Friday, January 6th. They noted that the move was a valuation call. EF Hutton Acquisition Co. I began coverage on shares of Allogene Therapeutics in a report on Thursday, January 5th. They set a “buy” rating and a $15.00 price target on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $32.00 price target on shares of Allogene Therapeutics in a report on Thursday, December 1st.

Allogene Therapeutics Stock Down 1.6 %

ALLO stock opened at $6.95 on Wednesday. Allogene Therapeutics has a 12 month low of $5.41 and a 12 month high of $17.49. The firm has a market cap of $1.00 billion, a P/E ratio of -3.16 and a beta of 0.71. The company’s 50-day moving average price is $7.98 and its two-hundred day moving average price is $10.99.

Allogene Therapeutics (NASDAQ:ALLOGet Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.04. Allogene Therapeutics had a negative net margin of 126,580.16% and a negative return on equity of 37.74%. The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.01 million. During the same period last year, the firm earned ($0.57) EPS. Equities analysts predict that Allogene Therapeutics will post -2.38 EPS for the current year.

Insiders Place Their Bets

In other Allogene Therapeutics news, General Counsel Veer Bhavnagri sold 5,602 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $7.53, for a total transaction of $42,183.06. Following the sale, the general counsel now directly owns 583,677 shares of the company’s stock, valued at approximately $4,395,087.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 29.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CI Investments Inc. lifted its position in shares of Allogene Therapeutics by 80.5% in the 2nd quarter. CI Investments Inc. now owns 2,193 shares of the company’s stock worth $25,000 after purchasing an additional 978 shares during the period. Navalign LLC lifted its position in shares of Allogene Therapeutics by 1.5% in the 2nd quarter. Navalign LLC now owns 75,365 shares of the company’s stock worth $859,000 after purchasing an additional 1,094 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Allogene Therapeutics by 9.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 14,083 shares of the company’s stock worth $151,000 after purchasing an additional 1,248 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Allogene Therapeutics by 10.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 16,550 shares of the company’s stock worth $189,000 after purchasing an additional 1,500 shares during the period. Finally, US Bancorp DE lifted its position in shares of Allogene Therapeutics by 41.9% in the 2nd quarter. US Bancorp DE now owns 5,474 shares of the company’s stock worth $63,000 after purchasing an additional 1,616 shares during the period. Institutional investors and hedge funds own 72.94% of the company’s stock.

Allogene Therapeutics Company Profile

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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 ALL.

Further Reading

Analyst Recommendations for Allogene Therapeutics (NASDAQ:ALLO)

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