Allogene Therapeutics (NASDAQ:ALLO) Rating Lowered to “Sell” at 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 research note issued to investors on Sunday.

A number of other research analysts also recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allogene Therapeutics in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Allogene Therapeutics in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.44.

Allogene Therapeutics Stock Performance

Shares of ALLO stock opened at $1.27 on Friday. The stock has a market capitalization of $281.79 million, a P/E ratio of -1.14 and a beta of 0.43. The company has a 50 day moving average price of $1.17 and a 200 day moving average price of $1.27. 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 announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. On average, research analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in ALLO. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Allogene Therapeutics during the first quarter worth approximately $28,000. CANADA LIFE ASSURANCE Co lifted its stake in Allogene Therapeutics by 142.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock worth $35,000 after purchasing an additional 18,314 shares during the last quarter. R Squared Ltd bought a new position in Allogene Therapeutics during the second quarter worth $37,000. Engineers Gate Manager LP bought a new position in Allogene Therapeutics during the second quarter worth $37,000. Finally, Los Angeles Capital Management LLC bought a new position in Allogene Therapeutics during the second quarter worth $41,000. Institutional investors and hedge funds 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).