Allogene Therapeutics (NASDAQ:ALLO) Given New $9.00 Price Target at Piper Sandler

Allogene Therapeutics (NASDAQ:ALLO) had its price target lowered by Piper Sandler from $11.00 to $9.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on ALLO. Citigroup increased their price target on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Canaccord Genuity Group dropped their price target on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research report on Friday, November 8th. Truist Financial reissued a “buy” rating and set a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Finally, Oppenheimer initiated coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.73.

Allogene Therapeutics Trading Down 8.1 %

Shares of Allogene Therapeutics stock traded down $0.20 on Thursday, reaching $2.26. The stock had a trading volume of 2,272,931 shares, compared to its average volume of 2,463,274. The business’s 50 day moving average is $2.75 and its two-hundred day moving average is $2.66. Allogene Therapeutics has a 1 year low of $2.01 and a 1 year high of $5.78.

Institutional Trading of Allogene Therapeutics

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Allogene Therapeutics by 429.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after buying an additional 8,734 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $29,000. Phoenix Wealth Advisors acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $30,000. Private Advisor Group LLC acquired a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $34,000. Finally, Algert Global LLC acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at approximately $35,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

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).