Zacks Investment Research Downgrades Allogene Therapeutics (NASDAQ:ALLO) to Hold

Zacks Investment Research lowered shares of Allogene Therapeutics (NASDAQ:ALLO) from a buy rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

According to Zacks, “Allogene Therapeutics, Inc. is a biotechnology company. It develops allogeneic chimeric antigen receptor T-cell therapy for the treatment of blood cancers and solid tumors. The company’s product pipeline consists of UCART19, ALLO-501, ALLO-715, ALLO-819, CD70, DLL3 and ALLO-647 which are in clinical stage. Allogene Therapeutics, Inc. is headquartered in South San Francisco, California. “

Several other research analysts have also weighed in on ALLO. JPMorgan Chase & Co. reaffirmed a hold rating and set a $29.00 price target on shares of Allogene Therapeutics in a research report on Sunday, August 11th. William Blair reaffirmed a buy rating on shares of Allogene Therapeutics in a research report on Monday, April 15th. BTIG Research began coverage on Allogene Therapeutics in a research report on Friday, August 9th. They set a buy rating and a $37.00 price target on the stock. Stifel Nicolaus began coverage on Allogene Therapeutics in a research report on Wednesday, May 22nd. They set a hold rating and a $27.00 price target on the stock. Finally, Roth Capital began coverage on Allogene Therapeutics in a research report on Wednesday, June 5th. They set a neutral rating and a $26.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Allogene Therapeutics currently has a consensus rating of Buy and a consensus target price of $36.10.

NASDAQ:ALLO opened at $26.31 on Monday. Allogene Therapeutics has a twelve month low of $21.67 and a twelve month high of $35.55. The stock’s 50 day moving average price is $28.31 and its two-hundred day moving average price is $28.44. The company has a quick ratio of 13.46, a current ratio of 13.46 and a debt-to-equity ratio of 0.05.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.06. Sell-side analysts anticipate that Allogene Therapeutics will post -1.94 EPS for the current fiscal year.

In related news, insider Alison Moore sold 48,827 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $29.44, for a total transaction of $1,437,466.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 36.50% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $65,000. Bank of Montreal Can acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $87,000. Legal & General Group Plc acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth approximately $89,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth approximately $92,000. 51.30% of the stock is currently owned by institutional investors and hedge funds.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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