Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Free Report) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.35.
ALLO has been the subject of several recent research reports. Stifel Nicolaus decreased their target price on shares of Allogene Therapeutics from $8.00 to $7.50 in a research note on Thursday, May 4th. JMP Securities decreased their target price on shares of Allogene Therapeutics from $19.00 to $15.00 in a research note on Friday, May 5th. Oppenheimer reiterated an “outperform” rating and set a $28.00 target price on shares of Allogene Therapeutics in a research note on Thursday. Truist Financial cut their price target on shares of Allogene Therapeutics from $20.00 to $18.00 in a report on Wednesday, July 12th. Finally, HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Allogene Therapeutics in a report on Thursday, April 20th.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ALLO. Oppenheimer & Co. Inc. increased its holdings in Allogene Therapeutics by 24.9% in the first quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock valued at $137,000 after buying an additional 3,000 shares in the last quarter. AlphaCrest Capital Management LLC increased its holdings in Allogene Therapeutics by 83.4% in the first quarter. AlphaCrest Capital Management LLC now owns 49,574 shares of the company’s stock valued at $452,000 after buying an additional 22,540 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Allogene Therapeutics by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 36,326 shares of the company’s stock worth $331,000 after purchasing an additional 13,419 shares in the last quarter. BlackRock Inc. increased its stake in shares of Allogene Therapeutics by 8.6% during the 1st quarter. BlackRock Inc. now owns 7,086,233 shares of the company’s stock worth $64,557,000 after purchasing an additional 560,279 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Allogene Therapeutics by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 805,987 shares of the company’s stock worth $7,344,000 after purchasing an additional 61,259 shares in the last quarter. 79.51% of the stock is owned by hedge funds and other institutional investors.
Allogene Therapeutics Price Performance
Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.06. Allogene Therapeutics had a negative net margin of 184,733.34% and a negative return on equity of 54.13%. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.01 million. During the same quarter in the prior year, the firm earned ($0.52) earnings per share. The business’s quarterly revenue was down 48.8% compared to the same quarter last year. On average, research analysts expect that Allogene Therapeutics will post -2.31 earnings per share for the current year.
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 ALL.
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