Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Free Report)’s stock price dropped 6.3% during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $11.00 to $9.00. Piper Sandler currently has an overweight rating on the stock. Allogene Therapeutics traded as low as $2.54 and last traded at $2.55. Approximately 570,027 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,454,845 shares. The stock had previously closed at $2.72.
A number of other research firms have also issued reports on ALLO. Oppenheimer initiated coverage on shares of Allogene Therapeutics in a report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 target price on the stock. Canaccord Genuity Group cut their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Citigroup increased their price objective on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $14.00 price objective (down from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.73.
Read Our Latest Report on Allogene Therapeutics
Institutional Trading of Allogene Therapeutics
Allogene Therapeutics Price Performance
The company’s 50-day simple moving average is $2.75 and its 200-day simple moving average is $2.66. The company has a market cap of $515.79 million, a price-to-earnings ratio of -1.58 and a beta of 0.84.
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).
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