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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.73.

ALLO has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Allogene Therapeutics in a report on Friday, November 8th. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Finally, Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th.

Allogene Therapeutics Stock Down 1.6 %

Shares of NASDAQ:ALLO opened at $1.84 on Friday. The firm has a market cap of $385.79 million, a P/E ratio of -1.18 and a beta of 0.86. Allogene Therapeutics has a 12 month low of $1.78 and a 12 month high of $5.78. The company’s 50-day moving average price is $2.22 and its two-hundred day moving average price is $2.52.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALLO. Perceptive Advisors LLC acquired a new stake in Allogene Therapeutics in the second quarter worth $6,349,000. Lynx1 Capital Management LP acquired a new stake in Allogene Therapeutics during the 2nd quarter worth $5,192,000. Renaissance Technologies LLC lifted its holdings in Allogene Therapeutics by 340.4% during the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after acquiring an additional 1,351,055 shares in the last quarter. Zacks Investment Management acquired a new position in Allogene Therapeutics in the third quarter valued at about $1,446,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after acquiring an additional 507,021 shares in the last quarter. Institutional investors 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).