Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Average Rating of “Moderate Buy” from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.5222.

Several brokerages recently weighed in on ALLO. JPMorgan Chase & Co. raised shares of Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a research report on Thursday, April 16th. Citigroup reissued an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday, April 14th. Argus increased their price objective on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research note on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allogene Therapeutics in a research note on Friday, May 1st. Finally, Sanford C. Bernstein raised their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday, April 14th.

Hedge Funds Weigh In On Allogene Therapeutics

Several large investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC bought a new position in Allogene Therapeutics during the 1st quarter valued at $27,000. Russell Investments Group Ltd. grew its stake in shares of Allogene Therapeutics by 11,159.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after acquiring an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allogene Therapeutics by 5,267.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at about $30,000. Finally, Bull Harbor Capital LLC bought a new position in shares of Allogene Therapeutics during the first quarter valued at about $31,000. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $1.74 on Monday. Allogene Therapeutics has a 1-year low of $0.98 and a 1-year high of $4.46. The firm has a market capitalization of $600.56 million, a price-to-earnings ratio of -2.26 and a beta of 0.46. The firm’s fifty day moving average price is $1.99 and its two-hundred day moving average price is $2.09.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. On average, research analysts forecast that Allogene Therapeutics will post -0.7 EPS for the current year.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.