Allogene Therapeutics (NASDAQ:ALLO) Given New $29.00 Price Target at HC Wainwright

Allogene Therapeutics (NASDAQ:ALLOGet Rating) had its price objective reduced by HC Wainwright from $43.00 to $29.00 in a research report released on Monday, The Fly reports. HC Wainwright currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. JMP Securities reaffirmed a buy rating and issued a $23.00 price target on shares of Allogene Therapeutics in a research note on Tuesday, September 27th. Raymond James downgraded shares of Allogene Therapeutics from an outperform rating to a market perform rating in a report on Wednesday, August 10th. Oppenheimer lowered their price objective on shares of Allogene Therapeutics to $32.00 in a report on Thursday, October 13th. Truist Financial lowered their price objective on shares of Allogene Therapeutics to $29.00 in a report on Tuesday, August 23rd. Finally, B. Riley lowered their price objective on shares of Allogene Therapeutics from $21.00 to $18.00 and set a buy rating on the stock in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $25.70.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $10.30 on Monday. Allogene Therapeutics has a twelve month low of $6.43 and a twelve month high of $19.25. The firm’s 50 day moving average price is $10.71 and its two-hundred day moving average price is $11.42. The firm has a market cap of $1.49 billion, a P/E ratio of -4.68 and a beta of 0.59.

Allogene Therapeutics (NASDAQ:ALLOGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. Allogene Therapeutics had a negative net margin of 126,580.16% and a negative return on equity of 37.74%. During the same period last year, the company earned ($0.57) EPS. On average, sell-side analysts anticipate that Allogene Therapeutics will post -2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Allogene Therapeutics by 2.6% in the third quarter. BlackRock Inc. now owns 8,212,580 shares of the company’s stock valued at $88,696,000 after purchasing an additional 207,414 shares during the last quarter. State Street Corp increased its holdings in shares of Allogene Therapeutics by 78.5% in the first quarter. State Street Corp now owns 7,877,648 shares of the company’s stock valued at $71,765,000 after purchasing an additional 3,464,603 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Allogene Therapeutics by 6.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,907,316 shares of the company’s stock valued at $63,800,000 after purchasing an additional 348,140 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Allogene Therapeutics by 1,255.9% in the second quarter. Woodline Partners LP now owns 5,859,679 shares of the company’s stock valued at $66,800,000 after purchasing an additional 5,427,529 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of Allogene Therapeutics by 5.2% in the first quarter. Primecap Management Co. CA now owns 4,906,266 shares of the company’s stock valued at $44,696,000 after purchasing an additional 244,451 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Company Profile

(Get Rating)

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 ALL.

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