Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives Consensus Rating of "Moderate Buy" from Analysts

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.73.

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Allogene Therapeutics from $35.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Piper Sandler reduced their price target on shares of Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, November 14th. William Blair reiterated an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Oppenheimer started coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They issued an "outperform" rating and a $11.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Friday, November 8th.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded up $0.10 during trading hours on Friday, reaching $2.21. The company had a trading volume of 1,456,823 shares, compared to its average volume of 2,660,311. Allogene Therapeutics has a 12-month low of $1.99 and a 12-month high of $5.78. The stock has a fifty day moving average of $2.69 and a 200-day moving average of $2.63.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its position in Allogene Therapeutics by 4.1% during the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company's stock worth $13,212,000 after purchasing an additional 221,840 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company's stock valued at $18,675,000 after acquiring an additional 1,806,147 shares during the last quarter. Geode Capital Management LLC increased its holdings in Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company's stock valued at $9,037,000 after acquiring an additional 407,070 shares in the last quarter. Perceptive Advisors LLC acquired a new position in Allogene Therapeutics during the second quarter worth about $6,349,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company's stock valued at $5,944,000 after purchasing an additional 507,021 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

About Allogene Therapeutics

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).