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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $9.73.

Several research analysts recently weighed in on ALLO shares. Piper Sandler dropped their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Citigroup boosted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Canaccord Genuity Group decreased their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Friday, November 8th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after purchasing an additional 8,734 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Allogene Therapeutics in the second quarter worth about $29,000. Phoenix Wealth Advisors acquired a new stake in Allogene Therapeutics during the second quarter worth about $30,000. Private Advisor Group LLC purchased a new position in Allogene Therapeutics during the third quarter valued at approximately $34,000. Finally, Algert Global LLC purchased a new position in Allogene Therapeutics during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Down 0.8 %

Shares of ALLO opened at $2.50 on Friday. The company has a 50 day moving average of $2.67 and a two-hundred day moving average of $2.62. The company has a market cap of $524.18 million, a price-to-earnings ratio of -1.60 and a beta of 0.84. Allogene Therapeutics has a twelve month low of $1.99 and a twelve month high of $5.78.

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).