Allogene Therapeutics (NASDAQ:ALLO) Stock Price Up 6.6% – Time to Buy?

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price was up 6.6% during trading on Monday . The stock traded as high as $2.63 and last traded at $2.60. Approximately 145,803 shares were traded during trading, a decline of 94% from the average daily volume of 2,436,426 shares. The stock had previously closed at $2.44.

Analyst Ratings Changes

ALLO has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price 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. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Allogene Therapeutics in a report on Thursday, August 15th. Truist Financial reaffirmed a “buy” rating and set a $14.00 target price (down previously from $17.00) on shares of Allogene Therapeutics in a report on Friday, August 9th. Citigroup upped their price target on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer initiated coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Stock Performance

The business has a 50-day simple moving average of $2.69 and a 200 day simple moving average of $2.70. The firm has a market cap of $560.12 million, a P/E ratio of -1.45 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates 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%. On average, research analysts expect that Allogene Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its stake in Allogene Therapeutics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 40,219 shares of the company’s stock worth $113,000 after buying an additional 15,690 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Allogene Therapeutics during the 3rd quarter worth approximately $34,000. Creative Planning raised its position in shares of Allogene Therapeutics by 108.7% in the 3rd quarter. Creative Planning now owns 61,396 shares of the company’s stock worth $172,000 after acquiring an additional 31,984 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Allogene Therapeutics by 25.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 60,675 shares of the company’s stock valued at $170,000 after purchasing an additional 12,328 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Allogene Therapeutics by 252.7% during the third quarter. SG Americas Securities LLC now owns 46,967 shares of the company’s stock valued at $132,000 after purchasing an additional 33,651 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).