Allogene Therapeutics (NASDAQ:ALLO) Cut to “Sell” at Wall Street Zen

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

A number of other equities research analysts have also issued reports on the stock. UBS Group started coverage on shares of Allogene Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $8.00 target price for the company. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.40.

Allogene Therapeutics Trading Up 11.1%

Shares of ALLO stock opened at $1.80 on Friday. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78. The stock’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.33. The company has a market capitalization of $404.51 million, a price-to-earnings ratio of -1.84 and a beta of 0.60.

Insider Activity

In other news, SVP Earl Martin Douglas sold 22,900 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.76, for a total value of $40,304.00. Following the sale, the senior vice president directly owned 564,948 shares of the company’s stock, valued at approximately $994,308.48. This trade represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zachary Roberts sold 35,700 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $1.77, for a total value of $63,189.00. Following the transaction, the executive vice president directly owned 581,166 shares of the company’s stock, valued at $1,028,663.82. This represents a 5.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 215,855 shares of company stock valued at $378,426 over the last three months. 13.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Savant Capital LLC acquired a new position in Allogene Therapeutics during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. grew its position in Allogene Therapeutics by 11,159.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after purchasing an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Allogene Therapeutics by 5,267.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Allogene Therapeutics during the 3rd quarter worth about $30,000. Finally, Brighton Jones LLC raised its position in shares of Allogene Therapeutics by 81.6% during the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after buying an additional 11,311 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.