Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twelve analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.73.

ALLO has been the subject of a number of research reports. Piper Sandler decreased their target price on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. William Blair restated an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 target price on shares of Allogene Therapeutics in a research report on Friday, November 8th.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in shares of Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company's stock worth $25,000 after buying an additional 8,734 shares in the last quarter. Federated Hermes Inc. bought a new stake in Allogene Therapeutics during the second quarter worth approximately $29,000. Private Advisor Group LLC acquired a new stake in Allogene Therapeutics in the third quarter worth approximately $34,000. Algert Global LLC acquired a new stake in Allogene Therapeutics in the second quarter worth approximately $35,000. Finally, Rothschild Investment LLC bought a new position in Allogene Therapeutics during the 2nd quarter valued at $52,000. Institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock traded down $0.17 during trading hours on Wednesday, reaching $1.90. The company's stock had a trading volume of 2,757,486 shares, compared to its average volume of 2,474,909. Allogene Therapeutics has a one year low of $1.83 and a one year high of $5.78. The company's 50 day simple moving average is $2.53 and its 200 day simple moving average is $2.58. The stock has a market cap of $398.38 million, a P/E ratio of -1.22 and a beta of 0.83.

Allogene Therapeutics Company Profile

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).