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

Allogene Therapeutics (NASDAQ:ALLO) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

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

Allogene Therapeutics Stock Performance

ALLO opened at $1.80 on Friday. The firm’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $1.33. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78. The firm has a market cap of $404.51 million, a price-to-earnings ratio of -1.84 and a beta of 0.60.

Insider Transactions at Allogene Therapeutics

In other news, SVP Earl Martin Douglas sold 22,900 shares of the business’s 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 completion of the sale, the senior vice president owned 564,948 shares in the company, valued at $994,308.48. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Geoffrey M. Parker sold 24,001 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the transaction, the chief financial officer directly owned 1,252,795 shares in the company, valued at $2,204,919.20. This trade represents a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 215,855 shares of company stock worth $378,426 in the last quarter. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Allogene Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted 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 last quarter. Kalehua Capital Management LLC bought a new stake in shares of Allogene Therapeutics during the fourth quarter worth approximately $3,488,000. Patient Square Capital LP lifted its holdings in Allogene Therapeutics by 66.5% in the fourth quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after buying an additional 1,982,360 shares during the period. Millennium Management LLC boosted its stake 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 acquiring an additional 1,887,302 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake 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 acquiring an additional 1,770,419 shares during the last quarter. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Company Profile

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.