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 report released on Friday morning.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. JMP Securities reissued a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $8.44.

Get Our Latest Stock Report on ALLO

Allogene Therapeutics Stock Up 2.1%

Shares of ALLO opened at $1.45 on Friday. The company has a market capitalization of $325.86 million, a price-to-earnings ratio of -1.48 and a beta of 0.47. Allogene Therapeutics has a 52 week low of $0.86 and a 52 week high of $3.78. The stock’s 50-day moving average price is $1.26 and its 200-day moving average price is $1.22.

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

Insider Activity

In related news, CFO Geoffrey M. Parker sold 36,744 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total value of $46,297.44. Following the completion of the sale, the chief financial officer owned 1,276,796 shares of the company’s stock, valued at approximately $1,608,762.96. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares during the period. Millennium Management LLC raised its position 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 purchasing an additional 1,887,302 shares during the period. Two Sigma Investments LP lifted its stake in shares of Allogene Therapeutics by 109.7% in the 3rd quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after purchasing an additional 1,770,419 shares during the last quarter. UBS Group AG grew its holdings in shares of Allogene Therapeutics by 75.1% during the 3rd quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock worth $4,428,000 after purchasing an additional 1,532,238 shares during the period. Finally, Primecap Management Co. CA grew its holdings 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 purchasing an additional 1,360,168 shares during the period. 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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