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

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $12.94.

Several brokerages have recently commented on ALLO. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a report on Friday, January 5th. Guggenheim lowered shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. reduced their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Tuesday, March 19th.

Allogene Therapeutics Trading Down 1.4 %

Shares of ALLO opened at $3.46 on Friday. Allogene Therapeutics has a 12 month low of $2.23 and a 12 month high of $6.89. The firm’s 50 day moving average is $4.51 and its 200-day moving average is $3.54. The stock has a market capitalization of $585.05 million, a PE ratio of -1.66 and a beta of 0.81.

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. Allogene Therapeutics had a negative net margin of 202,366.25% and a negative return on equity of 53.76%. The company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Equities research analysts predict that Allogene Therapeutics will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ALLO. McGlone Suttner Wealth Management Inc. acquired a new stake in Allogene Therapeutics in the fourth quarter valued at approximately $27,000. EP Wealth Advisors LLC bought a new position in shares of Allogene Therapeutics during the third quarter valued at $34,000. Aaron Wealth Advisors LLC bought a new position in shares of Allogene Therapeutics during the fourth quarter valued at $34,000. Axxcess Wealth Management LLC bought a new position in shares of Allogene Therapeutics during the fourth quarter valued at $34,000. Finally, GTS Securities LLC bought a new position in shares of Allogene Therapeutics during the third quarter valued at $35,000. 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).