Allogene Therapeutics (ALLO) Expected to Announce Quarterly Earnings on Wednesday

Key Points

• Allogene Therapeutics is set to release its earnings on August 6th, with analysts predicting a loss of ($0.28) per share for the quarter.
• The company's stock has declined by 4.8%, currently trading at $1.40, with a market cap of $306.22 million.
• Research analysts have recently lowered their price targets for Allogene Therapeutics, with the average target now at $8.44, but the consensus remains a "Moderate Buy."

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) is anticipated to release its earnings data before the market opens on Wednesday, August 6th. Analysts expect Allogene Therapeutics to post earnings of ($0.28) per share for the quarter.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). On average, analysts expect Allogene Therapeutics to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Allogene Therapeutics Price Performance

Shares of ALLO traded down $0.15 during midday trading on Friday, reaching $1.08. The stock had a trading volume of 19,087,454 shares, compared to its average volume of 3,851,617. The company has a market cap of $236.23 million, a price-to-earnings ratio of -0.88 and a beta of 0.35. The company's fifty day simple moving average is $1.28 and its two-hundred day simple moving average is $1.52. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78.

Wall Street Analyst Weigh In

ALLO has been the topic of a number of analyst reports. Citizens Jmp cut Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 14th. Piper Sandler dropped their price objective on Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. Robert W. Baird cut their target price on Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Citigroup lowered their price target on Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Finally, Oppenheimer dropped their price target on shares of Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $8.44.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after acquiring an additional 3,747,397 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Allogene Therapeutics by 578.7% during the 1st quarter. Jane Street Group LLC now owns 1,116,681 shares of the company's stock worth $1,630,000 after purchasing an additional 952,158 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Allogene Therapeutics in the 1st quarter valued at about $85,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

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).