Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $13.17 Consensus Price Target from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.94.

ALLO has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 15th. Guggenheim lowered shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th.

Allogene Therapeutics Stock Down 1.4 %

Shares of ALLO opened at $3.50 on Friday. The stock has a market capitalization of $591.82 million, a P/E ratio of -1.67 and a beta of 0.81. The firm has a fifty day simple moving average of $4.54 and a two-hundred day simple moving average of $3.54. Allogene Therapeutics has a twelve month low of $2.23 and a twelve month high of $6.89.

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

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALLO. State Street Corp boosted its holdings in shares of Allogene Therapeutics by 78.5% in the first quarter. State Street Corp now owns 7,877,648 shares of the company’s stock worth $71,765,000 after buying an additional 3,464,603 shares during the last quarter. Woodline Partners LP boosted its position in shares of Allogene Therapeutics by 142.4% in the second quarter. Woodline Partners LP now owns 5,313,500 shares of the company’s stock worth $26,408,000 after purchasing an additional 3,121,070 shares during the period. Vanguard Group Inc. boosted its position in shares of Allogene Therapeutics by 41.1% in the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after purchasing an additional 3,086,311 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Allogene Therapeutics by 137.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company’s stock worth $10,712,000 after purchasing an additional 1,929,258 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Allogene Therapeutics by 134.5% in the fourth quarter. Millennium Management LLC now owns 3,275,124 shares of the company’s stock worth $20,601,000 after purchasing an additional 1,878,645 shares during the period. Hedge funds and other 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).