Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Target Price at $9.73

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.73.

Several research firms recently commented on ALLO. William Blair restated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th. Finally, Piper Sandler reduced their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after acquiring an additional 8,734 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Allogene Therapeutics during the second quarter worth approximately $29,000. Private Advisor Group LLC bought a new stake in shares of Allogene Therapeutics during the third quarter valued at approximately $34,000. Algert Global LLC acquired a new stake in shares of Allogene Therapeutics in the second quarter valued at approximately $35,000. Finally, Rothschild Investment LLC bought a new position in Allogene Therapeutics in the 2nd quarter worth approximately $52,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Up 7.2 %

Shares of ALLO opened at $2.09 on Wednesday. The company has a 50-day moving average price of $2.45 and a two-hundred day moving average price of $2.56. The stock has a market cap of $438.21 million, a price-to-earnings ratio of -1.34 and a beta of 0.83. Allogene Therapeutics has a 12 month low of $1.78 and a 12 month high of $5.78.

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).