Allogene Therapeutics (NASDAQ:ALLO) Trading Down 6.1%

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report)'s share price was down 6.1% during mid-day trading on Monday . The company traded as low as $3.55 and last traded at $3.57. Approximately 616,163 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 2,606,654 shares. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALLO. Royal Bank of Canada reiterated an "outperform" rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 15th. JMP Securities reiterated a "market perform" rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Guggenheim lowered Allogene Therapeutics from a "buy" rating to a "neutral" rating in a research report on Friday, January 5th. JPMorgan Chase & Co. reduced their price objective on Allogene Therapeutics from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. Two equities 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 price target of $13.17.

Allogene Therapeutics Stock Down 6.6 %

The company has a market capitalization of $600.27 million, a P/E ratio of -1.70 and a beta of 0.81. The business has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $3.53.

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

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Allogene Therapeutics by 78.5% during the first quarter. State Street Corp now owns 7,877,648 shares of the company's stock valued at $71,765,000 after purchasing an additional 3,464,603 shares during the period. Woodline Partners LP boosted its holdings in shares of Allogene Therapeutics by 142.4% in the second quarter. Woodline Partners LP now owns 5,313,500 shares of the company's stock valued at $26,408,000 after acquiring an additional 3,121,070 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Allogene Therapeutics by 41.1% during the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company's stock valued at $33,563,000 after acquiring an additional 3,086,311 shares during the period. Goldman Sachs Group Inc. raised its holdings in Allogene Therapeutics by 137.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company's stock worth $10,712,000 after purchasing an additional 1,929,258 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Allogene Therapeutics by 134.5% in the fourth quarter. Millennium Management LLC now owns 3,275,124 shares of the company's stock worth $20,601,000 after purchasing an additional 1,878,645 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

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).