Allogene Therapeutics (NASDAQ:ALLO) Trading 8.5% Higher

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) traded up 8.5% during trading on Friday . The company traded as high as $3.09 and last traded at $3.05. 485,739 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 2,082,099 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright dropped their target price on shares of Allogene Therapeutics from $23.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, September 25th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $28.00 price objective on shares of Allogene Therapeutics in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.35.

Allogene Therapeutics Stock Performance

The firm’s fifty day simple moving average is $3.16 and its 200-day simple moving average is $4.38. The stock has a market cap of $496.43 million, a P/E ratio of -1.32 and a beta of 0.83.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALLO. Oppenheimer & Co. Inc. raised its holdings in Allogene Therapeutics by 24.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock worth $137,000 after purchasing an additional 3,000 shares during the last quarter. AlphaCrest Capital Management LLC grew its position in shares of Allogene Therapeutics by 83.4% during the 1st quarter. AlphaCrest Capital Management LLC now owns 49,574 shares of the company’s stock worth $452,000 after buying an additional 22,540 shares during the period. MetLife Investment Management LLC grew its position in shares of Allogene Therapeutics by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 36,326 shares of the company’s stock worth $331,000 after buying an additional 13,419 shares during the period. BlackRock Inc. grew its position in shares of Allogene Therapeutics by 8.6% during the 1st quarter. BlackRock Inc. now owns 7,086,233 shares of the company’s stock worth $64,557,000 after buying an additional 560,279 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Allogene Therapeutics by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 805,987 shares of the company’s stock worth $7,344,000 after buying an additional 61,259 shares during the period. Institutional investors own 78.51% 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 ALL.