Allogene Therapeutics (NASDAQ:ALLO) Releases Earnings Results

Allogene Therapeutics (NASDAQ:ALLO) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04, Zacks reports.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO traded up $0.13 during mid-day trading on Friday, reaching $1.18. The company’s stock had a trading volume of 3,136,850 shares, compared to its average volume of 4,029,660. The stock has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.24. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78. The stock has a market capitalization of $261.82 million, a P/E ratio of -1.06 and a beta of 0.42.

Wall Street Analysts Forecast Growth

ALLO has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research report on Monday, August 4th. Wall Street Zen lowered Allogene Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, October 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.44.

Insiders Place Their Bets

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of the business’s stock in a transaction on Tuesday, October 21st. The stock was 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 of the company’s stock, valued at approximately $1,608,762.96. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ALLO. Vanguard Group Inc. boosted its holdings in Allogene Therapeutics by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock valued at $11,186,000 after purchasing an additional 761,642 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Allogene Therapeutics by 142.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock valued at $35,000 after buying an additional 18,314 shares during the period. Man Group plc raised its position in shares of Allogene Therapeutics by 47.6% during the 2nd quarter. Man Group plc now owns 274,684 shares of the company’s stock valued at $310,000 after buying an additional 88,588 shares during the period. Engineers Gate Manager LP acquired a new position in Allogene Therapeutics in the second quarter valued at approximately $37,000. Finally, Bank of America Corp DE grew its position in Allogene Therapeutics by 4.1% in the second quarter. Bank of America Corp DE now owns 987,495 shares of the company’s stock worth $1,116,000 after acquiring an additional 38,686 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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. 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).