Allogene Therapeutics (NASDAQ:ALLO) Rating Increased to Hold at Wall Street Zen

Key Points

• Allogene Therapeutics' stock rating was upgraded from a "sell" to a "hold" by Wall Street Zen, reflecting a shift in analyst sentiment.
• Despite the upgrade, Weiss Ratings maintained a "sell (e+)" rating, indicating mixed opinions among analysts; the stock has an average rating of "Moderate Buy" with a consensus price target of $8.44.
• The company reported a quarterly EPS of ($0.23), exceeding analysts' expectations, and hedge funds currently own 83.63% of its stock, indicating strong institutional interest.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

ALLO has been the subject of several other reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of Allogene Therapeutics in a research note on Saturday, September 27th. JMP Securities reiterated a "market perform" rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.44.

Allogene Therapeutics Trading Up 3.1%

Shares of NASDAQ ALLO opened at $1.33 on Friday. Allogene Therapeutics has a 12 month low of $0.86 and a 12 month high of $3.78. The firm has a market capitalization of $295.10 million, a PE ratio of -1.20 and a beta of 0.43. The firm has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.28.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. On average, sell-side analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Allogene Therapeutics in the first quarter worth approximately $28,000. CANADA LIFE ASSURANCE Co boosted its holdings 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 buying an additional 18,314 shares during the last quarter. R Squared Ltd purchased a new position in shares of Allogene Therapeutics in the second quarter worth approximately $37,000. Engineers Gate Manager LP purchased a new position in shares of Allogene Therapeutics in the second quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Allogene Therapeutics in the second quarter worth approximately $41,000. Hedge funds and other 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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