Allogene Therapeutics (NASDAQ:ALLO) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Allogene Therapeutics was restated with a "sell (E+)" rating by Weiss Ratings, indicating significant concerns among analysts about the company's performance.
• The company's stock currently has an average rating of "Moderate Buy" with a target price of $8.44, despite recent downgrades from firms like Wall Street Zen and JPMorgan Chase.
• Insider transactions show CFO Geoffrey M. Parker selling 36,744 shares, reflecting ongoing changes in ownership and potential confidence issues within the management team.

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

A number of other equities analysts also recently weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Wall Street Zen downgraded Allogene Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, October 12th. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of Allogene Therapeutics in a report on Friday, October 10th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Price Performance

NASDAQ ALLO traded down $0.01 on Friday, hitting $1.21. 1,387,538 shares of the company were exchanged, compared to its average volume of 4,110,267. The company's 50 day moving average price is $1.20 and its 200-day moving average price is $1.26. The firm has a market capitalization of $267.37 million, a P/E ratio of -1.09 and a beta of 0.43. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $3.78.

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

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of the stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total transaction of $46,297.44. Following the completion of the transaction, the chief financial officer directly owned 1,276,796 shares in the company, valued at $1,608,762.96. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALLO. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Allogene Therapeutics in the first quarter valued at $28,000. Brighton Jones LLC boosted its holdings in Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company's stock worth $31,000 after buying an additional 11,311 shares during the last quarter. Brooklyn Investment Group bought a new position in Allogene Therapeutics during the first quarter worth about $45,000. CANADA LIFE ASSURANCE Co boosted its holdings in Allogene Therapeutics by 142.0% during 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. Finally, Engineers Gate Manager LP bought a new position in Allogene Therapeutics during the second quarter worth about $37,000. 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).

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