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

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

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

Allogene Therapeutics Price Performance

Shares of Allogene Therapeutics stock opened at $1.80 on Friday. Allogene Therapeutics has a one year low of $0.86 and a one year high of $3.78. The business’s 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $1.33. The stock has a market capitalization of $404.51 million, a P/E ratio of -1.84 and a beta of 0.60.

Insider Activity at Allogene Therapeutics

In related news, CFO Geoffrey M. Parker sold 24,001 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the completion of the transaction, the chief financial officer directly owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. This represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Earl Martin Douglas sold 22,900 shares of Allogene Therapeutics stock in a transaction that occurred on Monday, February 2nd. The shares were 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 in the company, valued at approximately $994,308.48. The trade was a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 215,855 shares of company stock worth $378,426. 13.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. CANADA LIFE ASSURANCE Co lifted its position in Allogene Therapeutics by 27.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after buying an additional 8,519 shares during the period. Quadrature Capital Ltd increased its stake in shares of Allogene Therapeutics by 29.6% in the 2nd quarter. Quadrature Capital Ltd now owns 44,050 shares of the company’s stock worth $50,000 after acquiring an additional 10,059 shares in the last quarter. Brighton Jones LLC lifted its position in Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after acquiring an additional 11,311 shares during the period. Zacks Investment Management boosted its stake in Allogene Therapeutics by 2.7% during the third quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock worth $652,000 after acquiring an additional 13,831 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Allogene Therapeutics by 19.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 85,720 shares of the company’s stock worth $106,000 after purchasing an additional 14,032 shares during the period. 83.63% of the stock is owned by hedge funds and other 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.