Allogene Therapeutics (NASDAQ:ALLO) Trading 5.2% Higher – What’s Next?

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price rose 5.2% during mid-day trading on Tuesday . The company traded as high as $2.16 and last traded at $2.1350. Approximately 353,815 shares were traded during trading, a decline of 96% from the average session volume of 8,044,605 shares. The stock had previously closed at $2.03.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research report on Monday, August 17th. Weiss Ratings cut shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.30.

Allogene Therapeutics Trading Up 5.7%

The company has a market cap of $741.08 million, a PE ratio of -3.20 and a beta of 0.48. The stock has a 50 day moving average price of $1.98 and a 200 day moving average price of $2.14.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. Equities analysts expect that Allogene Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Pallas Capital Advisors LLC bought a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $25,000. Kestra Private Wealth Services LLC bought a new stake in Allogene Therapeutics during the first quarter worth about $27,000. GTS Securities LLC bought a new stake in Allogene Therapeutics during the second quarter worth about $27,000. Russell Investments Group Ltd. grew its holdings in Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after purchasing an additional 21,650 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in 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 worth $30,000 after purchasing an additional 23,599 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

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.