Allogene Therapeutics (NASDAQ:ALLO) Given Market Outperform Rating at Citizens Jmp

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “market outperform” rating reissued by equities researchers at Citizens Jmp in a research report issued on Monday,Benzinga reports. They currently have a $6.00 target price on the stock. Citizens Jmp’s price objective indicates a potential upside of 192.68% from the stock’s current price.

Separately, Weiss Ratings downgraded shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Stock Performance

NASDAQ ALLO opened at $2.05 on Monday. Allogene Therapeutics has a 12 month low of $1.03 and a 12 month high of $4.46. The stock has a market cap of $707.56 million, a PE ratio of -3.06 and a beta of 0.48. The stock’s 50 day moving average is $1.96 and its 200 day moving average is $2.12.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) earnings per share (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 analysts’ expectations of $0.00 million. On average, analysts forecast that Allogene Therapeutics will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALLO. Hennion & Walsh Asset Management Inc. bought a new position in Allogene Therapeutics during the second quarter valued at $1,504,000. Candriam S.C.A. grew its holdings in Allogene Therapeutics by 30.0% during the 1st quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock valued at $7,313,000 after purchasing an additional 691,674 shares during the last quarter. Walleye Capital LLC purchased a new stake in Allogene Therapeutics in the 2nd quarter worth about $6,797,000. Dimensional Fund Advisors LP lifted its stake in Allogene Therapeutics by 25.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,201,655 shares of the company’s stock worth $2,927,000 after purchasing an additional 243,839 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Allogene Therapeutics by 235.7% during the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock worth $841,000 after acquiring an additional 431,119 shares during the last quarter. 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.