Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Investment analysts at HC Wainwright lifted their FY2022 earnings estimates for Allogene Therapeutics in a report issued on Monday, November 21st. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($2.44) per share for the year, up from their previous estimate of ($2.46). HC Wainwright has a "Buy" rating and a $29.00 price target on the stock. The consensus estimate for Allogene Therapeutics' current full-year earnings is ($2.38) per share. HC Wainwright also issued estimates for Allogene Therapeutics' Q4 2022 earnings at ($0.77) EPS and FY2023 earnings at ($3.00) EPS.
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A number of other research firms have also recently weighed in on ALLO. JMP Securities reiterated a "buy" rating and set a $23.00 price objective on shares of Allogene Therapeutics in a research report on Tuesday, September 27th. Oppenheimer cut their price objective on shares of Allogene Therapeutics to $32.00 in a research report on Thursday, October 13th. Truist Financial cut their price objective on shares of Allogene Therapeutics to $29.00 in a research report on Tuesday, August 23rd. Raymond James cut shares of Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 10th. Finally, B. Riley cut their price target on shares of Allogene Therapeutics from $21.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, September 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.70.
Allogene Therapeutics Stock Down 0.9 %
ALLO stock opened at $10.60 on Wednesday. Allogene Therapeutics has a twelve month low of $6.43 and a twelve month high of $19.25. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -4.82 and a beta of 0.59. The firm's fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $11.43.
Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.04. Allogene Therapeutics had a negative net margin of 126,580.16% and a negative return on equity of 37.74%. During the same period in the previous year, the firm earned ($0.57) EPS.
Institutional Trading of Allogene Therapeutics
A number of hedge funds have recently added to or reduced their stakes in ALLO. Woodline Partners LP lifted its stake in Allogene Therapeutics by 1,255.9% in the second quarter. Woodline Partners LP now owns 5,859,679 shares of the company's stock worth $66,800,000 after acquiring an additional 5,427,529 shares during the period. State Street Corp lifted its stake in Allogene Therapeutics by 78.5% in the first quarter. State Street Corp now owns 7,877,648 shares of the company's stock worth $71,765,000 after acquiring an additional 3,464,603 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Allogene Therapeutics by 30.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,559,176 shares of the company's stock worth $63,375,000 after acquiring an additional 1,292,441 shares during the period. Goldman Sachs Group Inc. lifted its stake in Allogene Therapeutics by 62.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,962,209 shares of the company's stock worth $26,986,000 after acquiring an additional 1,138,944 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Allogene Therapeutics in the first quarter worth about $8,880,000. 84.81% of the stock is owned by hedge funds and other institutional investors.
About Allogene Therapeutics
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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 ALL.
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