Allogene Therapeutics’ (ALLO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a research report report published on Friday,Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Several other brokerages have also issued reports on ALLO. Truist Financial reaffirmed a “buy” rating and set a $14.00 target price (down from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Canaccord Genuity Group lowered their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Citigroup lifted their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer began coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Trading Down 3.4 %

NASDAQ:ALLO traded down $0.11 during trading hours on Friday, hitting $3.08. 2,839,424 shares of the company were exchanged, compared to its average volume of 2,465,262. The stock has a market capitalization of $644.06 million, a price-to-earnings ratio of -1.91 and a beta of 0.84. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78. The company has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $2.67.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. Equities research analysts predict that Allogene Therapeutics will post -1.38 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

Several large investors have recently made changes to their positions in ALLO. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Allogene Therapeutics by 85.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 361,913 shares of the company’s stock valued at $1,768,000 after buying an additional 166,433 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Allogene Therapeutics during the 1st quarter valued at about $1,280,000. Headlands Technologies LLC acquired a new position in Allogene Therapeutics during the 1st quarter valued at about $78,000. CANADA LIFE ASSURANCE Co boosted its stake in Allogene Therapeutics by 85.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company’s stock valued at $79,000 after purchasing an additional 8,162 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Allogene Therapeutics by 76.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).