Allogene Therapeutics (NASDAQ:ALLO) Downgraded to "Market Perform" Rating by Citizens Jmp

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) was downgraded by equities research analysts at Citizens Jmp from an "outperform" rating to a "market perform" rating in a research note issued on Wednesday, MarketBeat reports.

ALLO has been the topic of a number of other reports. HC Wainwright dropped their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, March 19th. Canaccord Genuity Group reissued a "buy" rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Trading Down 0.5%

ALLO traded down $0.01 on Wednesday, reaching $1.11. The stock had a trading volume of 1,555,938 shares, compared to its average volume of 3,352,593. The company has a market cap of $241.70 million, a P/E ratio of -0.71 and a beta of 0.60. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $3.78. The business's 50-day moving average price is $1.48 and its two-hundred day moving average price is $1.91.

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

Insider Activity

In related news, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the sale, the chief executive officer now owns 5,276,569 shares of the company's stock, valued at $10,342,075.24. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 61,757 shares of company stock worth $115,873. 13.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Allogene Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after acquiring an additional 3,747,397 shares during the period. Curi RMB Capital LLC grew its stake in shares of Allogene Therapeutics by 31.0% in the first quarter. Curi RMB Capital LLC now owns 195,890 shares of the company's stock worth $286,000 after acquiring an additional 46,313 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Allogene Therapeutics in the 1st quarter worth approximately $85,000. Frazier Life Sciences Management L.P. increased its stake in 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 during the period. Finally, DAFNA Capital Management LLC grew its holdings in shares of Allogene Therapeutics by 11.3% in the 1st quarter. DAFNA Capital Management LLC now owns 1,380,118 shares of the company's stock worth $2,015,000 after purchasing an additional 140,000 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.

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).