Allogene Therapeutics (NASDAQ:ALLO) Downgraded by Wall Street Zen to “Sell”

Allogene Therapeutics (NASDAQ:ALLO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

ALLO has been the topic of a number of other research reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.44.

Allogene Therapeutics Price Performance

ALLO opened at $1.13 on Friday. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The firm has a market capitalization of $250.72 million, a PE ratio of -1.02 and a beta of 0.36. The company’s 50-day moving average is $1.19 and its 200 day moving average is $1.36.

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

Institutional Investors Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Allogene Therapeutics during the 1st quarter worth approximately $28,000. Brooklyn Investment Group purchased a new stake in shares of Allogene Therapeutics during the 1st quarter worth approximately $45,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Allogene Therapeutics by 142.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock worth $35,000 after purchasing an additional 18,314 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Allogene Therapeutics during the 2nd quarter worth approximately $37,000. Finally, R Squared Ltd purchased a new stake in shares of Allogene Therapeutics during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

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).