Allogene Therapeutics (NASDAQ:ALLO) Price Target Cut to $9.00 by Analysts at Piper Sandler

Allogene Therapeutics (NASDAQ:ALLO) had its target price lowered by Piper Sandler from $11.00 to $9.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial restated a “buy” rating and set a $14.00 target price (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a report on Friday, November 8th. Citigroup lifted 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 began coverage on shares of Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average target price of $9.73.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO traded down $0.20 on Thursday, reaching $2.26. The stock had a trading volume of 2,272,931 shares, compared to its average volume of 2,463,274. The company has a 50-day moving average of $2.75 and a 200 day moving average of $2.66. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78.

Institutional Trading of Allogene Therapeutics

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Allogene Therapeutics by 340.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after purchasing an additional 1,351,055 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Allogene Therapeutics by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after purchasing an additional 507,021 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Allogene Therapeutics by 70.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after acquiring an additional 198,231 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of Allogene Therapeutics by 4.1% during the 2nd quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock valued at $13,212,000 after acquiring an additional 221,840 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).