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

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $9.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 240.91% from the stock's previous close.

Several other equities research analysts have also commented on the company. Oppenheimer began coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an "outperform" rating and a $11.00 price objective for the company. Canaccord Genuity Group cut their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. 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 report on Friday, August 9th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Allogene Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $9.96.

Allogene Therapeutics Stock Down 5.7 %

Shares of ALLO stock traded down $0.16 on Wednesday, hitting $2.64. The company had a trading volume of 2,055,987 shares, compared to its average volume of 2,452,678. Allogene Therapeutics has a twelve month low of $2.01 and a twelve month high of $5.78. The company has a 50-day moving average price of $2.69 and a 200-day moving average price of $2.69. The firm has a market cap of $552.06 million, a P/E ratio of -1.64 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced 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%. Equities research analysts expect that Allogene Therapeutics will post -1.38 EPS for the current year.

Institutional Trading of Allogene Therapeutics

Several hedge funds have recently modified their holdings of ALLO. Perceptive Advisors LLC acquired a new stake in Allogene Therapeutics in the second quarter valued at $6,349,000. Lynx1 Capital Management LP acquired a new stake in shares of Allogene Therapeutics during the second quarter worth about $5,192,000. Price T Rowe Associates Inc. MD increased its position in shares of Allogene Therapeutics by 76.2% during the first 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of Allogene Therapeutics by 340.4% during 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. Finally, Dimensional Fund Advisors LP increased its position in shares of Allogene Therapeutics by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company's stock worth $5,944,000 after purchasing an additional 507,021 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).