Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.73 Consensus Target Price from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $9.73.

ALLO has been the subject of a number of research analyst reports. Oppenheimer began coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $14.00 target price (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Canaccord Genuity Group dropped their target price 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. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Friday, November 8th. Finally, Citigroup upped their price objective 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.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO opened at $2.50 on Friday. Allogene Therapeutics has a 1 year low of $1.99 and a 1 year high of $5.78. The company has a market capitalization of $524.18 million, a PE ratio of -1.60 and a beta of 0.84. The business has a fifty day moving average price of $2.67 and a two-hundred day moving average price of $2.62.

Institutional Trading of Allogene Therapeutics

Large investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new stake in shares of Allogene Therapeutics in the 2nd quarter worth about $6,349,000. Lynx1 Capital Management LP purchased a new stake in Allogene Therapeutics during the second quarter worth $5,192,000. Price T Rowe Associates Inc. MD boosted its position in Allogene Therapeutics by 76.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after acquiring an additional 1,806,147 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $4,073,000 after acquiring an additional 1,351,055 shares during the period. Finally, Zacks Investment Management bought a new position in shares of Allogene Therapeutics in the 3rd quarter worth $1,446,000. Institutional investors 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).