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

HC Wainwright reaffirmed their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $9.00 price objective on the stock.

ALLO has been the topic of several other research reports. Truist Financial restated a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Citigroup increased their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Oppenheimer started coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group lowered their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.96.

Allogene Therapeutics Stock Performance

ALLO traded down $0.11 on Friday, hitting $3.08. 2,839,424 shares of the company were exchanged, compared to its average volume of 2,465,262. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78. The company has a market cap of $644.06 million, a PE ratio of -1.91 and a beta of 0.84. The stock’s fifty day moving average is $2.74 and its 200-day moving average is $2.67.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) 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%. As a group, equities research analysts expect that Allogene Therapeutics will post -1.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently added to or reduced their stakes in ALLO. Perceptive Advisors LLC acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at $6,349,000. Lynx1 Capital Management LP acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at $5,192,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Allogene Therapeutics by 76.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Allogene Therapeutics by 340.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock valued at $4,073,000 after purchasing an additional 1,351,055 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Allogene Therapeutics by 24.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after purchasing an additional 507,021 shares in the last quarter. Institutional investors and hedge funds 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).