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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.5222.

Several equities research analysts recently weighed in on the stock. HC Wainwright boosted their price target on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Citizens Jmp increased their price objective on shares of Allogene Therapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 14th. Truist Financial raised shares of Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Jefferies Financial Group boosted their target price on shares of Allogene Therapeutics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday, April 14th.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $2.12 on Thursday. The stock has a market capitalization of $731.72 million, a PE ratio of -2.75 and a beta of 0.46. The business has a 50 day simple moving average of $2.07 and a two-hundred day simple moving average of $2.05. Allogene Therapeutics has a 1-year low of $0.98 and a 1-year high of $4.46.

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, topping the consensus estimate of ($0.19) by $0.01. On average, analysts anticipate that Allogene Therapeutics will post -0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Goldman Sachs Group Inc. boosted its holdings in shares of Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares during the period. Kalehua Capital Management LLC bought a new position in shares of Allogene Therapeutics during the 4th quarter valued at approximately $3,488,000. Patient Square Capital LP raised its holdings in Allogene Therapeutics by 66.5% during the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after buying an additional 1,982,360 shares during the period. Millennium Management LLC raised its holdings in Allogene Therapeutics by 125.6% during the 3rd quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after buying an additional 1,887,302 shares during the period. Finally, Two Sigma Investments LP lifted its position in Allogene Therapeutics by 109.7% in the third quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock worth $4,196,000 after buying an additional 1,770,419 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

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.