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 recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.4444.

ALLO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Piper Sandler decreased their price objective on shares of Allogene Therapeutics from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, May 14th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Oppenheimer decreased their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th.

Allogene Therapeutics Stock Up 3.6%

ALLO stock opened at $1.15 on Friday. The firm has a 50 day moving average of $1.19 and a 200 day moving average of $1.38. The stock has a market capitalization of $255.16 million, a PE ratio of -1.04 and a beta of 0.36. Allogene Therapeutics has a 52 week low of $0.86 and a 52 week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. On average, equities research analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of Allogene Therapeutics by 6.0% during the 4th quarter. California State Teachers Retirement System now owns 135,554 shares of the company’s stock valued at $289,000 after purchasing an additional 7,685 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Allogene Therapeutics by 13.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 68,858 shares of the company’s stock valued at $101,000 after purchasing an additional 8,183 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Allogene Therapeutics by 25.6% during the 4th quarter. ProShare Advisors LLC now owns 46,082 shares of the company’s stock valued at $98,000 after purchasing an additional 9,388 shares in the last quarter. Quadrature Capital Ltd increased its holdings in shares of Allogene Therapeutics by 29.6% during the 2nd quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock valued at $50,000 after purchasing an additional 10,059 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Allogene Therapeutics by 4.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,065 shares of the company’s stock valued at $386,000 after purchasing an additional 10,489 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).