Allogene Therapeutics (NASDAQ:ALLO) Rating Increased to Hold at Wall Street Zen

Allogene Therapeutics (NASDAQ:ALLO) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

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

Allogene Therapeutics Price Performance

Shares of ALLO opened at $2.05 on Friday. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $2.39. The company has a market capitalization of $460.70 million, a P/E ratio of -2.09 and a beta of 0.60. The firm’s 50 day simple moving average is $1.61 and its 200 day simple moving average is $1.36.

Insider Activity

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

Institutional Trading of Allogene Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLO. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Allogene Therapeutics by 183.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,688 shares of the company’s stock valued at $81,000 after purchasing an additional 46,398 shares during the period. Patient Square Capital LP grew its stake in Allogene Therapeutics by 11.3% in the second quarter. Patient Square Capital LP now owns 2,635,000 shares of the company’s stock worth $2,978,000 after purchasing an additional 266,814 shares during the period. AustralianSuper Pty Ltd bought a new position in Allogene Therapeutics in the third quarter worth $474,000. R Squared Ltd purchased a new position in Allogene Therapeutics during the second quarter valued at $37,000. Finally, Primecap Management Co. CA boosted its holdings in shares of Allogene Therapeutics by 16.0% during the 2nd quarter. Primecap Management Co. CA now owns 5,719,140 shares of the company’s stock valued at $6,463,000 after buying an additional 787,300 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

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.