Allogene Therapeutics (NASDAQ:ALLO) Given “Buy” Rating at HC Wainwright

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 189.39% from the company’s current price.

A number of other research analysts have also commented on the company. Citigroup upped their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Oppenheimer assumed coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group reduced their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.96.

Allogene Therapeutics Stock Down 2.5 %

Shares of NASDAQ ALLO traded down $0.08 during midday trading on Friday, reaching $3.11. The company had a trading volume of 1,235,057 shares, compared to its average volume of 2,457,869. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78. The firm’s fifty day moving average price is $2.73 and its 200-day moving average price is $2.67. The stock has a market cap of $650.33 million, a PE ratio of -1.93 and a beta of 0.84.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Allogene Therapeutics will post -1.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA lifted its stake in Allogene Therapeutics by 4.1% in the second 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Allogene Therapeutics by 76.2% in 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 during the last quarter. Perceptive Advisors LLC bought a new stake in Allogene Therapeutics in the second quarter worth about $6,349,000. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 507,021 shares during the last quarter. Finally, Lynx1 Capital Management LP bought a new stake in Allogene Therapeutics in the second quarter worth about $5,192,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

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).