Allogene Therapeutics (NASDAQ:ALLO) Earns “Underweight” Rating from JPMorgan Chase & Co.

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “underweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Friday, MarketBeat.com reports.

A number of other brokerages have also weighed in on ALLO. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Wall Street Zen raised Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.44.

Allogene Therapeutics Stock Down 18.5%

Shares of NASDAQ ALLO opened at $1.23 on Friday. The business has a 50-day moving average price of $1.17 and a 200 day moving average price of $1.27. The stock has a market cap of $272.91 million, a PE ratio of -1.11 and a beta of 0.43. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.05. Sell-side analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALLO. Goldman Sachs Group Inc. lifted its stake in shares of Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings 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 buying an additional 1,001,000 shares during the last quarter. Jane Street Group LLC increased its holdings in Allogene Therapeutics by 578.7% in the first quarter. Jane Street Group LLC now owns 1,116,681 shares of the company’s stock valued at $1,630,000 after buying an additional 952,158 shares during the last quarter. Primecap Management Co. CA increased its holdings in Allogene Therapeutics by 16.0% in the second quarter. Primecap Management Co. CA now owns 5,719,140 shares of the company’s stock valued at $6,463,000 after buying an additional 787,300 shares during the last quarter. Finally, Aberdeen Group plc increased its holdings in Allogene Therapeutics by 138.0% in the first quarter. Aberdeen Group plc now owns 867,250 shares of the company’s stock valued at $1,266,000 after buying an additional 502,868 shares during the last quarter. Institutional investors and hedge funds 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).