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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.73.

Several equities analysts recently issued reports on ALLO shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Allogene Therapeutics in a report on Friday, November 8th. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Piper Sandler cut their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $6,349,000. Lynx1 Capital Management LP bought a new position in Allogene Therapeutics during the second quarter worth about $5,192,000. Renaissance Technologies LLC grew its stake in Allogene Therapeutics by 340.4% in the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock valued at $4,073,000 after acquiring an additional 1,351,055 shares during the period. Zacks Investment Management bought a new stake in shares of Allogene Therapeutics in the third quarter worth about $1,446,000. Finally, Dimensional Fund Advisors LP raised 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 during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $1.87 on Wednesday. The business’s fifty day moving average price is $2.48 and its two-hundred day moving average price is $2.56. The firm has a market capitalization of $392.09 million, a price-to-earnings ratio of -1.20 and a beta of 0.83. Allogene Therapeutics has a 52 week low of $1.78 and a 52 week high of $5.78.

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).