Allogene Therapeutics (NASDAQ:ALLO) Upgraded at UBS Group

Allogene Therapeutics (NASDAQ:ALLO) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

ALLO has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.40.

Allogene Therapeutics Stock Performance

NASDAQ ALLO opened at $1.49 on Wednesday. Allogene Therapeutics has a 1 year low of $0.86 and a 1 year high of $3.78. The firm has a market capitalization of $334.85 million, a P/E ratio of -1.52 and a beta of 0.51. The firm’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.26.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. On average, research analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Geoffrey M. Parker sold 36,744 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total transaction of $46,297.44. Following the completion of the sale, the chief financial officer owned 1,276,796 shares in the company, valued at $1,608,762.96. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in Allogene Therapeutics in the second quarter worth $390,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Allogene Therapeutics by 183.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 71,688 shares of the company’s stock worth $81,000 after buying an additional 46,398 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in Allogene Therapeutics in the second quarter valued at about $124,000. Patient Square Capital LP increased its holdings in shares of Allogene Therapeutics by 11.3% in the second quarter. Patient Square Capital LP now owns 2,635,000 shares of the company’s stock valued at $2,978,000 after purchasing an additional 266,814 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Allogene Therapeutics in the second quarter worth $37,000. 83.63% of the stock is owned by institutional investors and hedge funds.

About Allogene Therapeutics

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.