Allogene Therapeutics’ (ALLO) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a report issued on Monday morning,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Separately, Weiss Ratings lowered Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Stock Performance

NASDAQ:ALLO opened at $2.23 on Monday. The firm’s 50-day moving average is $1.97 and its 200-day moving average is $2.13. Allogene Therapeutics has a 52-week low of $1.03 and a 52-week high of $4.46. The company has a market cap of $770.44 million, a price-to-earnings ratio of -3.33 and a beta of 0.48.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $0.00 million. Equities analysts predict that Allogene Therapeutics will post -0.59 EPS for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ALLO. Coastal Bridge Advisors LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $45,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Allogene Therapeutics during the 2nd quarter valued at about $554,000. Corient Private Wealth LP acquired a new stake in shares of Allogene Therapeutics during the 2nd quarter valued at about $85,000. Bank of America Corp DE bought a new stake in Allogene Therapeutics in the second quarter valued at about $6,630,000. Finally, Man Group plc bought a new stake in Allogene Therapeutics in the second quarter valued at about $1,460,000. Institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.