Allogene Therapeutics (NASDAQ:ALLO) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Allogene Therapeutics reported a quarterly loss of ($0.23) earnings per share, which exceeded analyst estimates of ($0.28) by $0.05.
• Shares of Allogene Therapeutics increased slightly to $1.04, and the company has a market capitalization of $227.48 million.
• Multiple brokerages have adjusted their price targets for Allogene, with the overall average rating being "Moderate Buy" and an average price target of $8.44.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05, Zacks reports.

Allogene Therapeutics Price Performance

Shares of ALLO traded up $0.01 on Wednesday, hitting $1.04. The company's stock had a trading volume of 7,921,974 shares, compared to its average volume of 4,393,649. The company has a market capitalization of $227.48 million, a PE ratio of -0.85 and a beta of 0.35. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The company has a 50 day moving average price of $1.26 and a 200 day moving average price of $1.47.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALLO. Truist Financial lowered their price target on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Allogene Therapeutics in a research note on Monday, August 4th. Oppenheimer lowered their price objective on Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Robert W. Baird lowered their price objective on Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. Finally, Citizens Jmp lowered Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $8.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Allogene Therapeutics by 39.0% during the 2nd quarter. Invesco Ltd. now owns 396,512 shares of the company's stock worth $448,000 after buying an additional 111,305 shares in the last quarter. Rhumbline Advisers lifted its holdings in Allogene Therapeutics by 14.0% during the 2nd quarter. Rhumbline Advisers now owns 209,336 shares of the company's stock worth $237,000 after buying an additional 25,628 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Allogene Therapeutics by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company's stock worth $4,289,000 after buying an additional 435,389 shares in the last quarter. Jane Street Group LLC lifted its holdings in 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 buying an additional 952,158 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after buying an additional 3,747,397 shares in the last quarter. 83.63% of the stock is 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).

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