Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $8.44 Average Price Target from Brokerages

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.44.

Several brokerages recently weighed in on ALLO. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. Citizens Jmp lowered shares of Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 14th. Oppenheimer cut their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 14th. Piper Sandler cut their price objective on shares of Allogene Therapeutics from $9.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Finally, HC Wainwright cut their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $1.25 on Friday. The company has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.67. The firm has a market capitalization of $273.41 million, a price-to-earnings ratio of -1.02 and a beta of 0.31. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). On average, analysts predict that Allogene Therapeutics will post -1.28 EPS for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lynx1 Capital Management LP grew its holdings in Allogene Therapeutics by 75.3% during the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock valued at $23,163,000 after purchasing an additional 4,672,349 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after acquiring an additional 3,747,397 shares during the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Allogene Therapeutics by 34.9% in the first quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company’s stock worth $5,648,000 after acquiring an additional 1,001,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allogene Therapeutics by 30.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock worth $7,586,000 after acquiring an additional 831,146 shares during the last quarter. Finally, Foresite Capital Management VI LLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter worth $7,345,000. Institutional investors and hedge funds own 83.63% 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 acute lymphoblastic leukemia (ALL).