Brokerages recommend Allogene Therapeutics, Inc. (NASDAQ:ALLO) as a “Moderate Buy” on average

According to Stock Market Ratings, the eleven analysts that are now following Allogene Therapeutics, Inc. (NASDAQ:ALLO) have recommended shares of the firm on average as “Moderate Buy.” Eight research experts have recommended that the business purchase the stock, while three have rated it with a hold rating. Brokers that have covered the stock over the past year have an average 12-month price objective of $15.29.

Recent comments on ALLO have come from a number of brokerages. In a research report released on Friday, January 19, HC Wainwright lowered their price target on Allogene Therapeutics shares from $12.00 to $10.00 and established a “buy” rating for the business. On Friday, January 5, JMP Securities reiterated its “market perform” recommendation for Allogene Therapeutics’ stock in a research note. Friday, December 8th marked the start of Citigroup’s research study covering shares of Allogene Therapeutics. They gave the business a “buy” rating and a $7.00 price target. In a research report released on Friday, January 5, Guggenheim reduced Allogene Therapeutics’ shares from a “buy” recommendation to a “neutral” one.

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Allogene Therapeutics: Insider Purchasing and Selling

In other Allogene Therapeutics news, on Monday, December 18, Director Deborah M. Messemer sold 18,640 shares of the company’s stock. A total of $50,328.00 was exchanged for the stock at an average price of $2.70. The director now directly owns 62,456 shares of the company, valued at about $168,631.20, as a result of the transaction. The SEC has made the sale public in a document that may be seen by clicking this URL. Insiders of the corporation hold 27.40 percent of the stock.

Expert Opinion Regarding Allogene Therapeutics: Institutional Investors

Hedge funds have adjusted their stakes in the company lately. During the second quarter, Oppenheimer & Co. Inc. invested $62,000 in new Allogene Therapeutics shares. In the second quarter, JPMorgan Chase & Co. increased its investment in Allogene Therapeutics by 22.1%. After purchasing 1,109,851 more shares of the company’s stock during the quarter, JPMorgan Chase & Co. now owns 6,134,395 shares valued at $30,488,000. In the second quarter, TD Asset Management Inc. increased its investment in Allogene Therapeutics by 14.9%. After purchasing 25,800 more shares of the company’s stock during the quarter, TD Asset Management Inc. now has 199,479 shares valued at $991,000. In the second quarter, Crosspoint Financial LLC acquired a new interest in Allogene Therapeutics for about $60,000. Lastly, in the third quarter, Harbour Capital Advisors Inc. increased its investment in Allogene Therapeutics by 18.0%. After purchasing an additional 10,473 shares of the company’s stock during the quarter, Harbour Capital Advisors Inc. now owns 68,519 shares valued at $217,000. Institutional investors now hold 78.51% of the stock.

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Allogene Therapeutics Price Performance: NASDAQ ALLO’s shares opened Friday at $3.24. The 50-day simple moving average of the firm is $2.92, while the 200-day simple moving average is $3.47. With a market value of $545.23 million, the company has a -1.45 PE ratio and a 0.76 beta. In the past year, Allogene Therapeutics has seen lows of $2.23 and highs of $8.44.

The most recent quarterly earnings data for Allogene Therapeutics (NASDAQ:ALLO) were disclosed on Thursday, November 2. The firm exceeded the average expectation of ($0.53) by $0.16 when it announced ($0.37) earnings per share (EPS) for the quarter. Allogene Therapeutics had a 54.03% negative return on equity and a 178,954.28% negative net margin. In contrast to analyst projections of $0.05 million, the company’s revenue for the quarter was $0.04 million. Research analysts collectively predict that Allogene Therapeutics’ earnings per share for the current fiscal year will be -2.03.

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Concerning Allogene Therapeutics

Genetically modified allogeneic T cell treatments are developed and marketed by Allogene Therapeutics, Inc., a clinical stage immuno-oncology business, to treat cancer. It creates, produces, and markets UCART19, a potential allogeneic chimeric antigen receptor (CAR) T cell therapy for treating adult and paediatric R/R CD19 positive B-cell ALL patients.

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Source:
https://www.marketbeat.com/instant-alerts/nasdaq-allo-consensus-analyst-rating-2024-01-28/

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