Allogene Therapeutics' (ALLO) "Market Perform" Rating Reaffirmed at JMP Securities

Key Points

• Allogene Therapeutics (NASDAQ: ALLO) received a "market perform" rating from JMP Securities, reflecting cautious sentiment about the stock's performance.
• Several analysts have recently downgraded their price targets for Allogene, with estimates ranging from $7.00 to $9.00, while the consensus rating remains a "Moderate Buy" with a price target of $8.44.
• The company reported a quarterly earnings loss of ($0.28) per share and institutional investors hold a significant 83.63% of Allogene's stock, indicating strong institutional interest.

JMP Securities restated their market perform rating on shares of Allogene Therapeutics (NASDAQ:ALLO - Free Report) in a report issued on Monday,Benzinga reports.

ALLO has been the subject of a number of other reports. Citigroup reduced their target price on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Royal Bank Of Canada restated an "outperform" rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Allogene Therapeutics in a research report on Monday. Oppenheimer cut their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Finally, Robert W. Baird cut their price objective on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Trading Down 1.0%

ALLO traded down $0.01 during midday trading on Monday, hitting $1.04. 3,658,894 shares of the company traded hands, compared to its average volume of 5,064,103. The company has a market capitalization of $227.48 million, a price-to-earnings ratio of -0.85 and a beta of 0.35. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $3.78. The business has a 50 day simple moving average of $1.27 and a two-hundred day simple moving average of $1.49.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.28). Equities research analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Gilead Sciences Inc. acquired a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $2,464,000. Two Sigma Advisers LP grew its holdings in shares of Allogene Therapeutics by 12.1% in the fourth quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock valued at $5,756,000 after purchasing an additional 291,800 shares in the last quarter. DAFNA Capital Management LLC grew its holdings in shares of Allogene Therapeutics by 18.1% in the fourth quarter. DAFNA Capital Management LLC now owns 1,240,118 shares of the company's stock valued at $2,641,000 after purchasing an additional 190,000 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Allogene Therapeutics by 32.0% in the fourth quarter. Hsbc Holdings PLC now owns 69,155 shares of the company's stock valued at $147,000 after purchasing an additional 16,768 shares in the last quarter. Finally, Foresite Capital Management VI LLC acquired a new position in shares of Allogene Therapeutics in the fourth quarter valued at approximately $7,345,000. 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).