Allogene Therapeutics, Inc. (NASDAQ:ALLO) Given Consensus Rating of “Moderate Buy” by Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.73.

ALLO has been the subject of a number of analyst reports. Oppenheimer started 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. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Truist Financial reaffirmed a “buy” rating and issued a $14.00 price target (down from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Citigroup lifted their price objective on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler lowered their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th.

Allogene Therapeutics Stock Performance

ALLO opened at $2.21 on Friday. The company has a fifty day moving average price of $2.69 and a two-hundred day moving average price of $2.63. The firm has a market capitalization of $463.38 million, a PE ratio of -1.42 and a beta of 0.84. Allogene Therapeutics has a 52 week low of $1.99 and a 52 week high of $5.78.

Institutional Trading of Allogene Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ALLO. Price T Rowe Associates Inc. MD grew its holdings 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 buying an additional 1,806,147 shares in the last quarter. Renaissance Technologies LLC boosted its position in Allogene Therapeutics by 340.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after acquiring an additional 1,351,055 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after acquiring an additional 507,021 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Allogene Therapeutics by 70.3% in the second quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after purchasing an additional 198,231 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of Allogene Therapeutics by 4.1% in the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock valued at $13,212,000 after purchasing an additional 221,840 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).