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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $8.5222.

ALLO has been the subject of several research reports. Jefferies Financial Group lifted their price objective on Allogene Therapeutics from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Argus raised their price target on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a research report on Tuesday, April 14th. Sanford C. Bernstein boosted their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research report on Tuesday, April 14th. HC Wainwright increased their price objective on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Finally, Robert W. Baird raised their target price on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th.

Allogene Therapeutics Price Performance

ALLO opened at $1.88 on Monday. The business has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $2.10. The company has a market cap of $648.89 million, a PE ratio of -2.44 and a beta of 0.46. Allogene Therapeutics has a 52 week low of $0.98 and a 52 week high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, sell-side analysts expect that Allogene Therapeutics will post -0.7 EPS for the current fiscal year.

Institutional Trading of Allogene Therapeutics

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

About Allogene Therapeutics

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.