Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Price Target at $13.17

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $13.17.

ALLO has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a report on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 15th. Guggenheim downgraded Allogene Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, January 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a report on Tuesday, March 19th.

Allogene Therapeutics Trading Down 4.8 %

ALLO stock opened at $3.80 on Friday. Allogene Therapeutics has a 1-year low of $2.23 and a 1-year high of $6.89. The firm has a market cap of $642.54 million, a P/E ratio of -1.82 and a beta of 0.81. The business’s 50 day moving average is $4.57 and its 200-day moving average is $3.53.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.04. The business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. Sell-side analysts forecast that Allogene Therapeutics will post -1.69 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its position in shares of Allogene Therapeutics by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,827 shares of the company’s stock valued at $43,000 after buying an additional 1,826 shares in the last quarter. Ensign Peak Advisors Inc increased its position in shares of Allogene Therapeutics by 11.3% in the 3rd quarter. Ensign Peak Advisors Inc now owns 20,910 shares of the company’s stock valued at $226,000 after buying an additional 2,120 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Allogene Therapeutics by 6.4% in the 1st quarter. WINTON GROUP Ltd now owns 37,255 shares of the company’s stock valued at $184,000 after buying an additional 2,251 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Allogene Therapeutics by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 203,865 shares of the company’s stock valued at $1,013,000 after buying an additional 2,459 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Allogene Therapeutics by 23.1% during the 4th quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock worth $46,000 after purchasing an additional 2,680 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).