Wall Street Zen Upgrades Allogene Therapeutics (NASDAQ:ALLO) to Hold

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

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

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.45 on Friday. The company’s 50-day moving average is $1.26 and its 200 day moving average is $1.22. The company has a market capitalization of $325.86 million, a P/E ratio of -1.48 and a beta of 0.42. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. As a group, research analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Allogene Therapeutics

In other news, CFO Geoffrey M. Parker sold 36,744 shares of the 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 sale, the chief financial officer directly 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 filing with the SEC, which can be accessed through the SEC website. 13.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allogene Therapeutics

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

About Allogene Therapeutics

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).