Allogene Therapeutics (NASDAQ:ALLO) Given "Underweight" Rating at JPMorgan Chase & Co.

Key Points

• Allogene Therapeutics' stock has been reaffirmed with an "underweight" rating by JPMorgan Chase & Co., indicating continued caution from analysts regarding its performance.
• The company reported an earnings per share (EPS) of ($0.23) for the last quarter, beating the consensus estimate, but is projected to post ($1.28) EPS for the current fiscal year.
• Allogene Therapeutics has a market capitalization of $335.04 million and institutional investors hold 83.63% of its shares, reflecting strong interest from larger financial entities.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report)'s stock had its "underweight" rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a research note issued on Friday,Benzinga reports.

A number of other analysts also recently issued reports on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Allogene Therapeutics in a report on Wednesday. JMP Securities restated a "market perform" rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $1.51 on Friday. The company has a market capitalization of $335.04 million, a price-to-earnings ratio of -1.36 and a beta of 0.43. Allogene Therapeutics has a one year low of $0.86 and a one year high of $3.78. The company's fifty day moving average price is $1.17 and its 200-day moving average price is $1.28.

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

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently bought and sold shares of ALLO. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Allogene Therapeutics during the first quarter valued at $28,000. CANADA LIFE ASSURANCE Co raised its position in shares of Allogene Therapeutics by 142.0% in the second quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company's stock worth $35,000 after acquiring an additional 18,314 shares during the period. R Squared Ltd acquired a new position in shares of Allogene Therapeutics in the second quarter worth about $37,000. Engineers Gate Manager LP acquired a new position in shares of Allogene Therapeutics in the second quarter worth about $37,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth about $41,000. Institutional investors own 83.63% of the company's stock.

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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