Allogene Therapeutics (NASDAQ:ALLO) Shares Down 3.6%

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price dropped 3.6% on Wednesday . The company traded as low as $3.24 and last traded at $3.25. Approximately 110,132 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,523,398 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALLO. JPMorgan Chase & Co. reduced their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 15th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th. Guggenheim lowered Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.94.

Allogene Therapeutics Trading Down 6.1 %

The company has a market cap of $482.76 million, a price-to-earnings ratio of -1.37 and a beta of 0.81. The business has a fifty day moving average of $4.40 and a two-hundred day moving average of $3.55.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.04. The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. On average, research analysts forecast that Allogene Therapeutics, Inc. will post -1.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. acquired a new position in Allogene Therapeutics in the 4th quarter worth about $27,000. Axxcess Wealth Management LLC purchased a new stake in Allogene Therapeutics during the 4th quarter worth approximately $34,000. Aaron Wealth Advisors LLC purchased a new stake in Allogene Therapeutics during the 4th quarter worth approximately $34,000. EP Wealth Advisors LLC purchased a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $34,000. Finally, Victory Capital Management Inc. purchased a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 83.63% 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. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).