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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $8.30.

A number of research analysts recently issued reports on ALLO shares. Citizens Jmp restated a “market outperform” rating and set a $6.00 price target on shares of Allogene Therapeutics in a report on Monday. Weiss Ratings lowered Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th.

Allogene Therapeutics Stock Down 5.8%

Shares of Allogene Therapeutics stock opened at $2.10 on Friday. The firm has a market cap of $725.53 million, a PE ratio of -3.13 and a beta of 0.48. Allogene Therapeutics has a 12-month low of $1.04 and a 12-month high of $4.46. The company’s fifty day simple moving average is $1.98 and its two-hundred day simple moving average is $2.14.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million for the quarter, compared to the consensus estimate of $0.00 million. As a group, sell-side analysts expect that Allogene Therapeutics will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $1,504,000. Walleye Capital LLC purchased a new position in shares of Allogene Therapeutics in the 2nd quarter valued at approximately $6,797,000. Candriam S.C.A. lifted its stake in shares of Allogene Therapeutics by 30.0% in the 1st quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock valued at $7,313,000 after purchasing an additional 691,674 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Allogene Therapeutics by 25.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,201,655 shares of the company’s stock valued at $2,927,000 after purchasing an additional 243,839 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Allogene Therapeutics by 235.7% during the fourth quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock valued at $841,000 after purchasing an additional 431,119 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

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.