Allogene Therapeutics' (ALLO) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Allogene Therapeutics has had its "sell (e+)" rating reaffirmed by Weiss Ratings, indicating ongoing concerns over the company’s stock performance.
• Recent trading showed a 8.9% increase in Allogene Therapeutics' stock, reaching $1.47, with an average price target of $8.44 among analysts.
• Significant institutional buying was noted, with multiple firms increasing their stakes in Allogene Therapeutics, now owned 83.63% by institutional investors.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

ALLO has been the subject of several other research reports. JMP Securities reissued a "market perform" rating on shares of Allogene Therapeutics in a research report on Monday, August 4th. Wall Street Zen raised shares of Allogene Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Allogene Therapeutics in a research report on Monday, August 4th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $8.44.

Allogene Therapeutics Stock Up 8.9%

Shares of Allogene Therapeutics stock traded up $0.12 during trading on Wednesday, reaching $1.47. The company's stock had a trading volume of 3,568,724 shares, compared to its average volume of 4,169,747. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $3.78. The company has a market cap of $326.16 million, a price-to-earnings ratio of -1.32 and a beta of 0.43. The firm's 50-day moving average is $1.16 and its two-hundred day moving average is $1.27.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.05. On average, equities research analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALLO. Goldman Sachs Group Inc. increased 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 worth $8,547,000 after acquiring an additional 3,747,397 shares in the last quarter. Frazier Life Sciences Management L.P. increased its stake in shares of Allogene Therapeutics by 34.9% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company's stock worth $5,648,000 after acquiring an additional 1,001,000 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Allogene Therapeutics by 578.7% in the 1st quarter. Jane Street Group LLC now owns 1,116,681 shares of the company's stock worth $1,630,000 after acquiring an additional 952,158 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Allogene Therapeutics by 16.0% in the 2nd quarter. Primecap Management Co. CA now owns 5,719,140 shares of the company's stock worth $6,463,000 after acquiring an additional 787,300 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Allogene Therapeutics by 138.0% in the 1st quarter. Aberdeen Group plc now owns 867,250 shares of the company's stock worth $1,266,000 after acquiring an additional 502,868 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Company Profile

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).

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