Allogene Therapeutics (NASDAQ:ALLO) Trading Up 6.6% – What’s Next?

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) were up 6.6% during mid-day trading on Monday . The stock traded as high as $2.63 and last traded at $2.60. Approximately 145,803 shares were traded during trading, a decline of 94% from the average daily volume of 2,436,426 shares. The stock had previously closed at $2.44.

Analyst Ratings Changes

A number of brokerages have recently commented on ALLO. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group cut their price target 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. Oppenheimer initiated coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Allogene Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Stock Up 4.5 %

The firm has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.69. The company has a market capitalization of $585.51 million, a price-to-earnings ratio of -1.74 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. Analysts predict that Allogene Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Several large investors have recently modified their holdings of ALLO. Perceptive Advisors LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter worth approximately $6,349,000. Lynx1 Capital Management LP acquired a new position in Allogene Therapeutics in the second quarter worth $5,192,000. Price T Rowe Associates Inc. MD increased its stake in Allogene Therapeutics by 76.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during 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 buying an additional 1,351,055 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 valued at $5,944,000 after buying an additional 507,021 shares during the period. Institutional investors 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).