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

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Zacks Investment Research lowered shares of Allogene Therapeutics (NASDAQ:ALLO) from a buy rating to a hold rating in a report released on Monday morning, 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 firms have also issued reports on ALLO. BTIG Research started coverage on Allogene Therapeutics in a research note on Friday, August 9th. They set a buy rating and a $37.00 price objective for the company. Roth Capital started coverage on Allogene Therapeutics in a research note on Wednesday, June 5th. They set a neutral rating and a $26.00 price objective for the company. Stifel Nicolaus started coverage on Allogene Therapeutics in a research note on Wednesday, May 22nd. They set a hold rating and a $27.00 price objective for the company. Oppenheimer started coverage on Allogene Therapeutics in a research note on Friday, May 3rd. They set an outperform rating and a $45.00 price objective for the company. Finally, Guggenheim started coverage on Allogene Therapeutics in a research note on Thursday, May 30th. They set a neutral rating for the company. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Allogene Therapeutics currently has an average rating of Buy and an average target price of $36.10.

Allogene Therapeutics stock opened at $26.31 on Monday. The company has a current ratio of 13.46, a quick ratio of 13.46 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average price of $28.31 and a two-hundred day moving average price of $28.44. 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 quarterly earnings data on Wednesday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.06. On average, equities research analysts predict that Allogene Therapeutics will post -1.94 EPS for the current year.

In other news, insider Alison Moore sold 48,828 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.76, for a total value of $1,306,637.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 36.50% of the company’s stock.

Large investors have recently made changes to their positions in the company. Barclays PLC acquired a new stake in shares of Allogene Therapeutics in the fourth quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Allogene Therapeutics in the second quarter worth about $65,000. Bank of Montreal Can acquired a new stake in Allogene Therapeutics in the second quarter worth about $87,000. Legal & General Group Plc acquired a new stake in Allogene Therapeutics in the fourth quarter worth about $89,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in Allogene Therapeutics in the second quarter worth about $92,000. Institutional investors own 51.30% of the company’s stock.

Allogene Therapeutics Company Profile

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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