Allogene Therapeutics (NASDAQ:ALLO) Trading 2.2% Higher

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) shot up 2.2% during mid-day trading on Wednesday . The stock traded as high as $4.23 and last traded at $4.20. 1,019,834 shares were traded during trading, a decline of 61% from the average session volume of 2,615,178 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

ALLO has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of 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 reaffirmed an "outperform" rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 15th. HC Wainwright reiterated a "buy" rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Guggenheim lowered Allogene Therapeutics from a "buy" rating to a "neutral" rating in a report on Friday, January 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Allogene Therapeutics in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.17.

Allogene Therapeutics Stock Performance

The company has a market cap of $688.20 million, a price-to-earnings ratio of -1.98 and a beta of 0.81. The business's 50 day simple moving average is $4.55 and its 200-day simple moving average is $3.52.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, beating analysts' consensus estimates of ($0.47) by $0.04. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. Research analysts expect that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. acquired a new position in Allogene Therapeutics during the 4th quarter valued at $27,000. EP Wealth Advisors LLC acquired a new position in shares of Allogene Therapeutics during the third quarter valued at about $34,000. Aaron Wealth Advisors LLC bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at about $34,000. Axxcess Wealth Management LLC bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at about $34,000. Finally, GTS Securities LLC acquired a new stake in Allogene Therapeutics during the third quarter worth about $35,000. 83.63% of the stock is currently owned by institutional investors.

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).