Allogene Therapeutics (ALLO) Cut to “Sell” at Zacks Investment Research

Allogene Therapeutics (NASDAQ:ALLO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

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. “

A number of other analysts also recently weighed in on ALLO. Raymond James assumed coverage on Allogene Therapeutics in a research report on Thursday. They set an “outperform” rating and a $40.00 target price for the company. Cowen reiterated a “buy” rating on shares of Allogene Therapeutics in a research report on Friday, March 8th. William Blair assumed coverage on Allogene Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $29.00 target price on shares of Allogene Therapeutics in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $34.20.

Shares of NASDAQ:ALLO traded up $0.11 during trading on Monday, reaching $26.85. 11,975 shares of the company traded hands, compared to its average volume of 401,551. The company has a market cap of $3.25 billion and a price-to-earnings ratio of -4.08. Allogene Therapeutics has a 52 week low of $21.67 and a 52 week high of $35.55.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Friday, March 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). On average, analysts expect that Allogene Therapeutics will post -2.06 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $156,000. Creative Planning bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $544,000. VV Manager LLC bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $206,853,000. Artal Group S.A. bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $10,772,000. Finally, Shikiar Asset Management Inc. bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $1,056,000. Institutional investors and hedge funds own 44.94% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, engages in the research, development, and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is developing UCART19, a CAR T cell product candidate targeting CD19, which is in clinical trials in patients with R/R B-cell precursor acute lymphoblastic leukemia; ALLO-501, an allogeneic anti-CD19 CAR T cell product candidate for the treatment of patients with R/R non-Hodgkin lymphoma; ALLO-715, an allogeneic CAR T cell product candidate for the treatment of patients with R/R multiple myeloma; and ALLO-647, an anti-CD52 monoclonal antibody for use as a lymphodepleting agent.

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