Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $13.17

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $12.94.

A number of equities analysts have issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. HC Wainwright reissued a “buy” rating and set a $10.00 price target 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 report on Tuesday, February 27th. Finally, Guggenheim lowered shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors have recently made changes to their positions in ALLO. State Street Corp increased its holdings in shares of Allogene Therapeutics by 78.5% during the 1st quarter. State Street Corp now owns 7,877,648 shares of the company’s stock valued at $71,765,000 after purchasing an additional 3,464,603 shares in the last quarter. Woodline Partners LP grew its stake in Allogene Therapeutics by 142.4% in the 2nd quarter. Woodline Partners LP now owns 5,313,500 shares of the company’s stock valued at $26,408,000 after acquiring an additional 3,121,070 shares during the period. Vanguard Group Inc. grew its stake in Allogene Therapeutics by 41.1% in the 3rd quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock valued at $33,563,000 after acquiring an additional 3,086,311 shares during the period. Goldman Sachs Group Inc. grew its stake in Allogene Therapeutics by 137.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company’s stock valued at $10,712,000 after acquiring an additional 1,929,258 shares during the period. Finally, Millennium Management LLC grew its stake in Allogene Therapeutics by 134.5% in the 4th quarter. Millennium Management LLC now owns 3,275,124 shares of the company’s stock valued at $20,601,000 after acquiring an additional 1,878,645 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Down 1.4 %

ALLO stock opened at $3.50 on Friday. The firm has a 50 day moving average of $4.54 and a 200 day moving average of $3.54. The stock has a market capitalization of $591.82 million, a PE ratio of -1.67 and a beta of 0.81. Allogene Therapeutics has a 52 week low of $2.23 and a 52 week high of $6.89.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.04. The company 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%. On average, equities research analysts expect that Allogene Therapeutics will post -1.69 earnings per share for the current year.

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).