Allogene Therapeutics (NASDAQ:ALLO) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

Other analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.44.

Read Our Latest Analysis on ALLO

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $1.45 on Friday. The stock’s fifty day moving average price is $1.26 and its 200 day moving average price is $1.22. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78. The company has a market cap of $325.86 million, a price-to-earnings ratio of -1.48 and a beta of 0.42.

Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. As a group, equities research analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Activity

In related news, CFO Geoffrey M. Parker sold 36,744 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total transaction of $46,297.44. Following the completion of the transaction, the chief financial officer directly owned 1,276,796 shares in the company, valued at $1,608,762.96. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after purchasing an additional 3,747,397 shares during the period. Millennium Management LLC increased its holdings in Allogene Therapeutics by 125.6% in the third quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after buying an additional 1,887,302 shares in the last quarter. Two Sigma Investments LP increased its holdings in Allogene Therapeutics by 109.7% in the third quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after buying an additional 1,770,419 shares in the last quarter. UBS Group AG raised its position in shares of Allogene Therapeutics by 75.1% in the third quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock worth $4,428,000 after acquiring an additional 1,532,238 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Allogene Therapeutics by 23.8% during the 3rd quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after acquiring an additional 1,360,168 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

(Get Free Report)

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).

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