Allogene Therapeutics (NASDAQ:ALLO) Stock Rating Lowered by Wall Street Zen

Key Points

• Allogene Therapeutics' stock rating was downgraded from "hold" to a "sell" rating by Wall Street Zen, following similar sentiments from analysts at Weiss Ratings and JPMorgan Chase & Co.
• Analysts predict that Allogene Therapeutics will record -1.28 earnings per share for the current year, despite recently reporting better-than-expected earnings of ($0.23) EPS.
• The company's stock has a current price of $1.23 and has shown a 12-month price range of $0.86 to $3.78, with a market capitalization of approximately $272.91 million.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

Several other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Allogene Therapeutics in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed an "underweight" rating on shares of Allogene Therapeutics in a research report on Friday. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Allogene Therapeutics in a research report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Allogene Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $8.44.

Allogene Therapeutics Price Performance

ALLO opened at $1.23 on Friday. Allogene Therapeutics has a 12 month low of $0.86 and a 12 month high of $3.78. The stock has a market capitalization of $272.91 million, a price-to-earnings ratio of -1.11 and a beta of 0.43. The business has a fifty day moving average price of $1.17 and a 200 day moving average price of $1.27.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released 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. On average, research analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Institutional Trading of Allogene Therapeutics

A number of large investors have recently made changes to their positions in ALLO. Goldman Sachs Group Inc. boosted its position in shares of Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after purchasing an additional 3,747,397 shares during the period. Frazier Life Sciences Management L.P. boosted its position in shares of Allogene Therapeutics by 34.9% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 3,868,750 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,001,000 shares during the period. Jane Street Group LLC boosted its position in shares of Allogene Therapeutics by 578.7% in the 1st quarter. Jane Street Group LLC now owns 1,116,681 shares of the company's stock valued at $1,630,000 after purchasing an additional 952,158 shares during the period. Primecap Management Co. CA boosted its position in shares of Allogene Therapeutics by 16.0% in the 2nd quarter. Primecap Management Co. CA now owns 5,719,140 shares of the company's stock valued at $6,463,000 after purchasing an additional 787,300 shares during the period. Finally, Aberdeen Group plc boosted its position in shares of Allogene Therapeutics by 138.0% in the 1st quarter. Aberdeen Group plc now owns 867,250 shares of the company's stock valued at $1,266,000 after purchasing an additional 502,868 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.

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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