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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.73.

A number of brokerages have recently issued reports on ALLO. William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Piper Sandler lowered their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA raised its holdings in Allogene Therapeutics by 4.1% in the 2nd quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after purchasing an additional 221,840 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after buying an additional 407,070 shares during the period. Perceptive Advisors LLC bought a new position in Allogene Therapeutics in the second quarter worth about $6,349,000. Dimensional Fund Advisors LP lifted its holdings in Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after buying an additional 507,021 shares during the period. Finally, Lynx1 Capital Management LP bought a new stake in Allogene Therapeutics during the 2nd quarter valued at approximately $5,192,000. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Price Performance

NASDAQ:ALLO opened at $2.07 on Wednesday. The company has a market capitalization of $434.02 million, a price-to-earnings ratio of -1.33 and a beta of 0.83. The business has a 50 day moving average of $2.53 and a 200 day moving average of $2.58. Allogene Therapeutics has a 1-year low of $1.83 and a 1-year high of $5.78.

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).