Allogene Therapeutics (NASDAQ:ALLO) Raised to “Hold” at Wall Street Zen

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

Several other equities research analysts also recently 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 price objective for the company. Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. Finally, Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Friday, January 9th. Ten analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.40.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $2.05 on Friday. The company has a market cap of $460.70 million, a P/E ratio of -2.09 and a beta of 0.60. The business has a fifty day moving average of $1.61 and a two-hundred day moving average of $1.36. Allogene Therapeutics has a one year low of $0.86 and a one year high of $2.39.

Insider Activity

In other Allogene Therapeutics news, SVP Earl Martin Douglas sold 22,900 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $40,304.00. Following the completion of the sale, the senior vice president owned 564,948 shares in the company, valued at approximately $994,308.48. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David D. Chang sold 95,269 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total value of $171,484.20. Following the sale, the chief executive officer directly owned 5,185,862 shares in the company, valued at $9,334,551.60. The trade was a 1.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 215,855 shares of company stock valued at $378,426 in the last ninety days. 13.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Savant Capital LLC bought a new stake in Allogene Therapeutics during the third quarter valued at $27,000. Russell Investments Group Ltd. raised 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 valued at $27,000 after buying an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Allogene Therapeutics by 5,267.6% during the third 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 last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Allogene Therapeutics in the 3rd quarter worth approximately $30,000. Finally, Brighton Jones LLC grew its stake in Allogene Therapeutics by 81.6% in the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares during the period. 83.63% of the stock is currently owned by institutional investors.

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.