HC Wainwright Reaffirms Buy Rating for Allogene Therapeutics (NASDAQ:ALLO)

HC Wainwright reaffirmed their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO - Free Report) in a research note published on Friday,Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Several other research firms also recently commented on ALLO. Truist Financial reaffirmed a "buy" rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Oppenheimer assumed coverage on shares of Allogene Therapeutics in a research report on Thursday, August 8th. They set an "outperform" rating and a $11.00 target price on the stock. Citigroup boosted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group dropped their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Allogene Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.96.

Allogene Therapeutics Trading Down 3.4 %

Shares of NASDAQ ALLO traded down $0.11 during midday trading on Friday, hitting $3.08. The company's stock had a trading volume of 2,839,201 shares, compared to its average volume of 2,465,262. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78. The firm has a market cap of $644.06 million, a P/E ratio of -1.93 and a beta of 0.84. The business's 50 day moving average is $2.73 and its two-hundred day moving average is $2.67.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. On average, analysts predict that Allogene Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently bought and sold shares of ALLO. Price T Rowe Associates Inc. MD lifted its stake in shares of Allogene Therapeutics by 76.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company's stock worth $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Allogene Therapeutics by 340.4% in the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company's stock worth $4,073,000 after purchasing an additional 1,351,055 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Allogene Therapeutics during the first quarter valued at about $1,280,000. Dimensional Fund Advisors LP boosted its holdings in shares of Allogene Therapeutics by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company's stock valued at $5,944,000 after buying an additional 507,021 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Allogene Therapeutics by 70.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company's stock valued at $1,119,000 after buying an additional 198,231 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company's stock.

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).