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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.50.

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 15th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Tuesday, March 19th.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds have recently modified their holdings of the company. FMR LLC increased its position in shares of Allogene Therapeutics by 0.9% during the 3rd quarter. FMR LLC now owns 25,143,931 shares of the company’s stock valued at $79,706,000 after purchasing an additional 225,976 shares during the period. Vanguard Group Inc. increased its position in shares of Allogene Therapeutics by 41.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock valued at $33,563,000 after purchasing an additional 3,086,311 shares during the period. Rafferty Asset Management LLC increased its position in shares of Allogene Therapeutics by 2.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 904,403 shares of the company’s stock valued at $2,867,000 after purchasing an additional 19,832 shares during the period. Barclays PLC increased its position in shares of Allogene Therapeutics by 17.6% during the 3rd quarter. Barclays PLC now owns 786,793 shares of the company’s stock valued at $2,495,000 after purchasing an additional 117,596 shares during the period. Finally, Caxton Associates LP increased its position in shares of Allogene Therapeutics by 61.4% during the 4th quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after purchasing an additional 294,989 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Trading Down 2.0 %

Shares of NASDAQ ALLO opened at $3.01 on Tuesday. Allogene Therapeutics has a 12-month low of $2.23 and a 12-month high of $6.89. The company has a market cap of $513.87 million, a price-to-earnings ratio of -1.44 and a beta of 0.90. The stock’s 50 day simple moving average is $4.12 and its 200 day simple moving average is $3.54.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.04. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. As a group, equities analysts forecast that Allogene Therapeutics will post -1.69 earnings per share for the current fiscal year.

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).