Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.73 Consensus Price Target from Brokerages

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.73.

A number of research firms have recently issued reports on ALLO. William Blair reissued an "outperform" rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. Piper Sandler cut their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating for the company 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 report on Friday, November 8th.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter worth about $29,000. Private Advisor Group LLC acquired a new position in Allogene Therapeutics during the third quarter worth about $34,000. Algert Global LLC purchased a new stake in shares of Allogene Therapeutics in the second quarter valued at about $35,000. MML Investors Services LLC acquired a new stake in shares of Allogene Therapeutics in the third quarter valued at approximately $56,000. Finally, AQR Capital Management LLC purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $64,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Down 12.3 %

NASDAQ:ALLO traded down $0.29 during trading hours on Friday, reaching $2.06. 3,143,341 shares of the company's stock were exchanged, compared to its average volume of 3,148,804. Allogene Therapeutics has a 1-year low of $1.78 and a 1-year high of $5.78. The firm has a market capitalization of $431.92 million, a price-to-earnings ratio of -1.32 and a beta of 0.86. The company has a 50-day moving average of $2.32 and a 200 day moving average of $2.54.

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).