Allogene Therapeutics (NASDAQ:ALLO) Shares Up 6.6% - Still a Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report)'s stock price traded up 6.6% during mid-day trading on Monday . The company traded as high as $2.63 and last traded at $2.60. 145,803 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,436,426 shares. The stock had previously closed at $2.44.

Analysts Set New Price Targets

Several research analysts recently commented on ALLO shares. Truist Financial reissued a "buy" rating and set a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Oppenheimer initiated coverage on Allogene Therapeutics in a report on Thursday, August 8th. They issued an "outperform" rating and a $11.00 price objective for the company. Citigroup boosted their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Canaccord Genuity Group dropped 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. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.96.

Allogene Therapeutics Stock Up 9.8 %

The company has a market cap of $560.12 million, a P/E ratio of -1.50 and a beta of 0.83. The business has a fifty day moving average price of $2.69 and a 200-day moving average price of $2.70.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data 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%. As a group, research analysts expect that Allogene Therapeutics, Inc. will post -1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALLO. Bourgeon Capital Management LLC grew its stake in shares of Allogene Therapeutics by 12.8% in the first quarter. Bourgeon Capital Management LLC now owns 57,200 shares of the company's stock worth $256,000 after purchasing an additional 6,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Allogene Therapeutics by 85.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company's stock worth $1,768,000 after purchasing an additional 166,433 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth $1,280,000. Headlands Technologies LLC acquired a new position in Allogene Therapeutics in the first quarter valued at $78,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Allogene Therapeutics by 85.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company's stock worth $79,000 after acquiring an additional 8,162 shares during the period. 83.63% of the stock is currently owned by institutional investors.

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).