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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.73.

Several research analysts recently commented on ALLO shares. Piper Sandler reduced their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th. Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer assumed coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 target price on the stock.

Allogene Therapeutics Trading Up 4.7 %

Shares of NASDAQ:ALLO opened at $2.21 on Friday. The firm has a market capitalization of $463.38 million, a PE ratio of -1.42 and a beta of 0.84. Allogene Therapeutics has a 1-year low of $1.99 and a 1-year high of $5.78. The business’s 50 day moving average is $2.69 and its 200-day moving average is $2.63.

Institutional Trading of Allogene Therapeutics

Several hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock worth $959,000 after purchasing an additional 172,745 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after buying an additional 407,070 shares during the period. MML Investors Services LLC bought a new stake in shares of Allogene Therapeutics during the third quarter worth $56,000. Zacks Investment Management acquired a new position in shares of Allogene Therapeutics during the third quarter valued at $1,446,000. Finally, EP Wealth Advisors LLC boosted its holdings in Allogene Therapeutics by 125.6% in the third quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company’s stock valued at $69,000 after acquiring an additional 13,625 shares during the last quarter. 83.63% of the stock is owned by institutional investors.

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).