Allogene Therapeutics (NASDAQ:ALLO) Upgraded at Citizens Jmp

Allogene Therapeutics (NASDAQ:ALLO) was upgraded by investment analysts at Citizens Jmp from a “market perform” rating to a “mkt outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage presently has a $5.00 price target on the stock. Citizens Jmp’s price target would indicate a potential upside of 235.57% from the company’s previous close.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Finally, UBS Group assumed coverage on Allogene Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $8.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $8.40.

Allogene Therapeutics Price Performance

ALLO stock opened at $1.49 on Friday. The business has a 50-day moving average of $1.35 and a 200-day moving average of $1.26. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The stock has a market capitalization of $334.85 million, a P/E ratio of -1.52 and a beta of 0.51.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. Equities analysts expect that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total transaction of $46,297.44. Following the transaction, the chief financial officer owned 1,276,796 shares in the company, valued at approximately $1,608,762.96. This represents a 2.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Savant Capital LLC purchased a new position in Allogene Therapeutics in the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. increased its position in shares of Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Allogene Therapeutics by 5,267.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after acquiring an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Allogene Therapeutics in the third quarter worth about $30,000. Finally, Brighton Jones LLC lifted its stake 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 worth $31,000 after acquiring an additional 11,311 shares during the last quarter. 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.