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

Wall Street Zen lowered shares of Allogene Therapeutics (NASDAQ:ALLO) from a hold rating to a sell rating in a research note released on Saturday.

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

Allogene Therapeutics Trading Up 11.1%

Shares of ALLO opened at $1.80 on Friday. Allogene Therapeutics has a 12 month low of $0.86 and a 12 month high of $3.78. The stock’s 50 day moving average is $1.56 and its two-hundred day moving average is $1.33. The firm has a market cap of $404.51 million, a P/E ratio of -1.84 and a beta of 0.60.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, SVP Earl Martin Douglas sold 22,900 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total transaction of $40,304.00. Following the transaction, the senior vice president owned 564,948 shares of the company’s stock, valued at approximately $994,308.48. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, the chief executive officer directly owned 5,185,862 shares of the company’s stock, valued at $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 215,855 shares of company stock valued at $378,426. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds have recently modified their holdings of ALLO. Savant Capital LLC purchased a new position in Allogene Therapeutics during the third quarter worth about $27,000. Russell Investments Group Ltd. grew its stake in shares of 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 period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Allogene Therapeutics during the 3rd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd raised its position 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 valued at $30,000 after buying an additional 23,599 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Allogene Therapeutics by 81.6% during the 3rd 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 period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

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.