Allogene Therapeutics (NASDAQ:ALLO) Stock Price Down 6.1% – What’s Next?

Allogene Therapeutics, Inc. (NASDAQ:ALLO) traded down 6.1% during trading on Monday . The company traded as low as $1.77 and last traded at $1.7650. 2,321,403 shares traded hands during trading, a decline of 72% from the average session volume of 8,170,638 shares. The stock had previously closed at $1.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright lifted their target price on Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Argus lifted their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research note on Tuesday, April 14th. Citigroup reiterated an “outperform” rating on shares of Allogene Therapeutics in a research note on Tuesday, April 14th. Citizens Jmp lifted their target price on Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 14th. Finally, Piper Sandler lifted their price target on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.52.

Allogene Therapeutics Trading Down 1.9%

The company has a market cap of $636.81 million, a P/E ratio of -2.40 and a beta of 0.46. The business’s fifty day moving average is $2.28 and its 200 day moving average is $1.95.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. As a group, research analysts expect that Allogene Therapeutics, Inc. will post -0.72 EPS for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 47,763 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $2.47, for a total transaction of $117,974.61. Following the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 65,051 shares of company stock worth $159,228. Insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLO. Goldman Sachs Group Inc. raised 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 valued at $8,547,000 after acquiring an additional 3,747,397 shares during the period. Kalehua Capital Management LLC bought a new stake in Allogene Therapeutics during the 4th quarter valued at $3,488,000. Patient Square Capital LP grew its position in shares of Allogene Therapeutics by 66.5% during the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after purchasing an additional 1,982,360 shares in the last quarter. Millennium Management LLC grew its position in shares of Allogene Therapeutics by 125.6% during the 3rd quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after purchasing an additional 1,887,302 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Allogene Therapeutics by 109.7% during the 3rd quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after purchasing an additional 1,770,419 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.