Allogene Therapeutics (NASDAQ:ALLO) Stock Rating Lowered by Citizens Jmp

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

Several other analysts have also weighed in on the stock. HC Wainwright dropped their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. Canaccord Genuity Group reissued a "buy" rating and issued a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. Two research 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $9.26.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $1.13 on Wednesday. The company has a 50-day simple moving average of $1.55 and a 200-day simple moving average of $1.95. Allogene Therapeutics has a 52 week low of $1.06 and a 52 week high of $3.78. The firm has a market capitalization of $247.14 million, a P/E ratio of -0.72 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.28) EPS for the quarter, hitting analysts' consensus estimates of ($0.28). As a group, equities analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Activity at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at $10,342,075.24. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 61,757 shares of company stock worth $115,873. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several institutional investors have recently added to or reduced their stakes in ALLO. Lynx1 Capital Management LP lifted its holdings 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 purchasing an additional 4,672,349 shares in the last quarter. Foresite Capital Management VI LLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter valued at approximately $7,345,000. Patient Square Capital LP acquired a new position in Allogene Therapeutics during the fourth quarter worth $3,174,000. Gilead Sciences Inc. bought a new position in Allogene Therapeutics in the fourth quarter valued at $2,464,000. Finally, Dimensional Fund Advisors LP increased its stake in Allogene Therapeutics by 30.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company's stock valued at $7,586,000 after buying an additional 831,146 shares during the last quarter. 83.63% of the stock is owned by institutional investors.

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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