JMP Securities Reaffirms Market Perform Rating for Allogene Therapeutics (NASDAQ:ALLO)

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 reaffirmed their market perform rating on shares of Allogene Therapeutics (NASDAQ:ALLO - Free Report) in a research note issued to investors on Monday,Benzinga reports.

A number of other equities analysts also recently weighed in on ALLO. JPMorgan Chase & Co. restated a "neutral" rating on shares of Allogene Therapeutics in a report on Monday. Citizens Jmp downgraded shares of Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 14th. Oppenheimer lowered their target price on shares of Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. Piper Sandler decreased their price objective on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Finally, Robert W. Baird decreased their price objective on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.44.

Allogene Therapeutics Stock Performance

ALLO traded down $0.08 during trading on Monday, reaching $1.05. 680,844 shares of the stock were exchanged, compared to its average volume of 4,344,273. The stock has a market cap of $228.57 million, a P/E ratio of -0.84 and a beta of 0.35. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78. The stock's 50 day moving average price is $1.28 and its two-hundred day moving average price is $1.50.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.28). Equities research analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Lynx1 Capital Management LP grew its stake in shares of Allogene Therapeutics by 75.3% in the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company's stock valued at $23,163,000 after acquiring an additional 4,672,349 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after acquiring an additional 3,747,397 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Allogene Therapeutics by 34.9% in the first quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,001,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Allogene Therapeutics by 30.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company's stock valued at $7,586,000 after acquiring an additional 831,146 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 about $7,345,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).