JPMorgan Chase & Co. Reaffirms “Hold” Rating for Allogene Therapeutics (NASDAQ:ALLO)

JPMorgan Chase & Co. restated their hold rating on shares of Allogene Therapeutics (NASDAQ:ALLO) in a report published on Sunday morning, AnalystRatings.com reports. They currently have a $29.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. William Blair reissued a buy rating on shares of Allogene Therapeutics in a research note on Monday, April 15th. Oppenheimer began coverage on shares of Allogene Therapeutics in a research note on Friday, May 3rd. They issued an outperform rating and a $45.00 price target for the company. Stifel Nicolaus began coverage on shares of Allogene Therapeutics in a research note on Wednesday, May 22nd. They issued a hold rating and a $27.00 price target for the company. BTIG Research began coverage on shares of Allogene Therapeutics in a research note on Friday, August 9th. They issued a buy rating and a $37.00 price target for the company. Finally, Guggenheim began coverage on shares of Allogene Therapeutics in a research note on Thursday, May 30th. They issued a neutral rating for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Allogene Therapeutics presently has a consensus rating of Buy and an average price target of $36.10.

ALLO stock opened at $28.36 on Friday. The company has a current ratio of 13.46, a quick ratio of 13.46 and a debt-to-equity ratio of 0.05. Allogene Therapeutics has a one year low of $21.67 and a one year high of $35.55. The stock has a market cap of $3.45 billion and a PE ratio of -4.31. The business has a 50 day moving average of $28.27.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.06. On average, sell-side analysts forecast that Allogene Therapeutics will post -1.94 earnings per share for the current fiscal year.

In other news, insider Alison Moore sold 48,827 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $29.44, for a total value of $1,437,466.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 36.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC bought a new stake in Allogene Therapeutics during the 4th quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $65,000. Bank of Montreal Can bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $87,000. Legal & General Group Plc bought a new stake in Allogene Therapeutics during the 4th quarter valued at $89,000. Finally, BNP Paribas Arbitrage SA bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $92,000. Hedge funds and other institutional investors own 51.30% of the company’s stock.

About Allogene Therapeutics

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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Analyst Recommendations for Allogene Therapeutics (NASDAQ:ALLO)

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