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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $13.17.

Several brokerages recently commented on ALLO. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a report on Friday, January 5th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a report on Tuesday, March 19th. JPMorgan Chase & Co. dropped their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Finally, Guggenheim cut Allogene Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, January 5th.

Hedge Funds Weigh In On Allogene Therapeutics

Several large investors have recently modified their holdings of ALLO. State Street Corp lifted its stake in shares of Allogene Therapeutics by 78.5% in the 1st quarter. State Street Corp now owns 7,877,648 shares of the company’s stock valued at $71,765,000 after purchasing an additional 3,464,603 shares during the last quarter. Woodline Partners LP lifted its stake in Allogene Therapeutics by 142.4% during the 2nd quarter. Woodline Partners LP now owns 5,313,500 shares of the company’s stock worth $26,408,000 after acquiring an additional 3,121,070 shares in the last quarter. Vanguard Group Inc. lifted its stake in Allogene Therapeutics by 41.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after acquiring an additional 3,086,311 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Allogene Therapeutics by 137.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company’s stock worth $10,712,000 after acquiring an additional 1,929,258 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Allogene Therapeutics by 134.5% during the 4th quarter. Millennium Management LLC now owns 3,275,124 shares of the company’s stock worth $20,601,000 after acquiring an additional 1,878,645 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $3.99 on Friday. Allogene Therapeutics has a one year low of $2.23 and a one year high of $6.89. The stock has a market capitalization of $674.68 million, a price-to-earnings ratio of -1.91 and a beta of 0.81. The stock has a 50 day moving average price of $4.57 and a 200 day moving average price of $3.53.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.04. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, analysts predict that Allogene Therapeutics will post -1.69 earnings per share for the current year.

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).