Wall Street Zen cut shares of Allogene Therapeutics (NASDAQ:ALLO – Free Report) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.
A number of other analysts have also weighed in on ALLO. Weiss Ratings raised shares of Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Citizens Jmp reiterated a “market outperform” rating and set a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. Finally, William Blair upgraded shares of Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.30.
Get Our Latest Analysis on Allogene Therapeutics
Allogene Therapeutics Stock Up 1.9%
Shares of NASDAQ ALLO opened at $1.06 on Friday. Allogene Therapeutics has a fifty-two week low of $0.98 and a fifty-two week high of $4.46. The firm’s 50-day simple moving average is $1.50 and its 200 day simple moving average is $1.96. The stock has a market cap of $366.22 million, a P/E ratio of -1.68 and a beta of 0.76.
Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.15). On average, sell-side analysts anticipate that Allogene Therapeutics will post -0.58 earnings per share for the current fiscal year.
Insider Transactions at Allogene Therapeutics
In other Allogene Therapeutics news, CFO Geoffrey Parker sold 36,342 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $1.34, for a total value of $48,698.28. Following the sale, the chief financial officer directly owned 1,045,877 shares in the company, valued at approximately $1,401,475.18. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Earl Douglas sold 29,697 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the sale, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is owned by insiders.
Institutional Trading of Allogene Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Allogene Therapeutics during the second quarter worth approximately $62,706,000. Frazier Life Sciences Management L.P. increased its holdings in shares of Allogene Therapeutics by 491.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company’s stock valued at $46,689,000 after buying an additional 18,650,000 shares in the last quarter. Primecap Management Co. CA bought a new position in shares of Allogene Therapeutics in the second quarter valued at $27,297,000. Candriam S.C.A. lifted its position in shares of Allogene Therapeutics by 25.1% during the 3rd quarter. Candriam S.C.A. now owns 5,422,820 shares of the company’s stock valued at $8,708,000 after acquiring an additional 1,086,524 shares during the last quarter. Finally, Aberdeen Group plc lifted its position in shares of Allogene Therapeutics by 5.2% during the 3rd quarter. Aberdeen Group plc now owns 5,259,681 shares of the company’s stock valued at $8,415,000 after acquiring an additional 257,929 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.
Allogene Therapeutics Company Profile
Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.
The company’s investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.
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