Goldman Sachs analyst Salveen Richter moved shares of Allogene Therapeutics to Not Rated after the company announced a strategy shift across its allogeneic CAR T portfolio. The pivot to front-line large B-cell lymphoma is logical given the positioning of autologous CAR Ts in the third line setting, the analyst tells investors in a research note. The firm cites its approach for all early-stage biotech companies that have not passed a Phase 2 clinical trial for the move to Not Rated.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ALLO:
- Allogene Therapeutics and Foresight Diagnostics Announce Partnership to Develop MRD-based In-Vitro Diagnostic for Use in ALPHA3, the First Pivotal Trial for Frontline Consolidation in Large B-Cell Lymphoma
- Allogene Therapeutics Announces 2024 Platform Vision to Redefine the Future of CAR T Led by ALPHA3, the Industry’s First Pivotal Trial for Frontline Consolidation in Large B-Cell Lymphoma
- Allogene Therapeutics to Host Conference Call Previewing its 2024 Platform Vision and Present at the 42nd Annual J.P. Morgan Healthcare Conference
- The Smid-cap biotech stocks to own in 2024, according to Bernstein
- B. Riley sees these two biotech stocks outperforming in 2024