Allogene Therapeutics (NASDAQ:ALLO) Shares Up 6.6%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) shot up 6.6% during mid-day trading on Monday . The company traded as high as $3.10 and last traded at $3.08. 110,079 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,520,558 shares. The stock had previously closed at $2.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALLO. Guggenheim lowered Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a research 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 research report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.94.

Allogene Therapeutics Stock Down 2.8 %

The business has a 50-day moving average price of $4.28 and a two-hundred day moving average price of $3.55. The firm has a market cap of $471.19 million, a PE ratio of -1.32 and a beta of 0.81.

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

Hedge Funds Weigh In On Allogene Therapeutics

Several large investors have recently bought and sold shares of the business. FMR LLC increased its holdings in Allogene Therapeutics by 0.9% in the third quarter. FMR LLC now owns 25,143,931 shares of the company’s stock valued at $79,706,000 after buying an additional 225,976 shares during the last quarter. Vanguard Group Inc. increased its holdings in Allogene Therapeutics by 41.1% in the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock valued at $33,563,000 after buying an additional 3,086,311 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in Allogene Therapeutics by 2.2% in the third quarter. Rafferty Asset Management LLC now owns 904,403 shares of the company’s stock valued at $2,867,000 after buying an additional 19,832 shares during the last quarter. Barclays PLC increased its holdings in Allogene Therapeutics by 17.6% in the third quarter. Barclays PLC now owns 786,793 shares of the company’s stock valued at $2,495,000 after buying an additional 117,596 shares during the last quarter. Finally, Caxton Associates LP increased its holdings in Allogene Therapeutics by 61.4% in the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after buying an additional 294,989 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

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).