Allogene Therapeutics (NASDAQ:ALLO) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Allogene Therapeutics (NASDAQ:ALLO – Free Report) from a sell rating to a hold rating in a research note released on Sunday morning.

A number of other analysts also recently weighed in on ALLO. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price for the company in a research report on Friday, January 9th. UBS Group initiated coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.40.

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Allogene Therapeutics Stock Performance

ALLO opened at $2.29 on Friday. The business’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.38. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $2.32. The firm has a market capitalization of $514.63 million, a PE ratio of -2.34 and a beta of 0.60.

Insider Transactions at Allogene Therapeutics

In related news, CEO David D. Chang sold 95,269 shares of Allogene Therapeutics stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.80, for a total transaction of $171,484.20. Following the sale, the chief executive officer directly owned 5,185,862 shares in the company, valued at $9,334,551.60. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Earl Martin Douglas sold 22,900 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total transaction of $40,304.00. Following the transaction, the senior vice president owned 564,948 shares in the company, valued at approximately $994,308.48. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 215,855 shares of company stock worth $378,426 in the last 90 days. 13.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALLO. Savant Capital LLC bought a new position in shares of Allogene Therapeutics in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. boosted its position in Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after purchasing an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics in the 3rd quarter valued at $30,000. Finally, Brighton Jones LLC increased its position in shares of Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares during the last quarter. 83.63% of the stock is owned by institutional investors.

About Allogene Therapeutics

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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.

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