Allogene Therapeutics, Inc. (NASDAQ:ALLO) Receives $9.73 Consensus PT from Brokerages

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.73.

Several equities analysts recently commented on ALLO shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th. Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer started coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Truist Financial reissued a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th.

Allogene Therapeutics Stock Up 3.2 %

ALLO opened at $2.28 on Friday. Allogene Therapeutics has a twelve month low of $1.99 and a twelve month high of $5.78. The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.62. The stock has a market cap of $478.05 million, a price-to-earnings ratio of -1.46 and a beta of 0.84.

Institutional Investors Weigh In On Allogene Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its position in shares of Allogene Therapeutics by 429.6% during 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 in the last quarter. Private Advisor Group LLC bought a new position in Allogene Therapeutics in the third quarter valued at $34,000. Federated Hermes Inc. purchased a new stake in Allogene Therapeutics during the second quarter valued at about $29,000. Phoenix Wealth Advisors bought a new stake in Allogene Therapeutics during the second quarter worth about $30,000. Finally, Algert Global LLC purchased a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $35,000. 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).