Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Average Rating of "Moderate Buy" by Analysts

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.96.

Several research firms have recently weighed in on ALLO. Truist Financial reissued a "buy" rating and set a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Oppenheimer began coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an "outperform" rating and a $11.00 price target on the stock. Citigroup increased 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. Canaccord Genuity Group lowered their price target on Allogene Therapeutics from $35.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 target price on shares of Allogene Therapeutics in a report on Thursday, August 15th.

Institutional Investors Weigh In On Allogene Therapeutics

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Allogene Therapeutics by 429.6% in 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. purchased a new stake in Allogene Therapeutics in the 2nd quarter worth $29,000. Phoenix Wealth Advisors purchased a new stake in Allogene Therapeutics in the 2nd quarter worth $30,000. Private Advisor Group LLC purchased a new stake in Allogene Therapeutics in the 3rd quarter worth $34,000. Finally, Algert Global LLC purchased a new stake in Allogene Therapeutics in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Trading Up 4.5 %

ALLO stock traded up $0.12 during midday trading on Tuesday, hitting $2.80. The company's stock had a trading volume of 3,285,326 shares, compared to its average volume of 2,454,573. The company has a market cap of $585.51 million, a PE ratio of -1.74 and a beta of 0.83. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78. The firm's 50-day moving average is $2.69 and its 200-day moving average is $2.69.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate 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%. Analysts expect that Allogene Therapeutics will post -1.38 earnings per share for the current year.

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).