Allogene Therapeutics (NASDAQ:ALLO) Shares Down 3.6%

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price fell 3.6% during trading on Wednesday . The company traded as low as $3.24 and last traded at $3.25. 110,132 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 2,523,398 shares. The stock had previously closed at $3.37.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALLO. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 15th. 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 report on Tuesday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Finally, Guggenheim downgraded shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.94.

Allogene Therapeutics Stock Performance

The stock has a market capitalization of $482.76 million, a price-to-earnings ratio of -1.37 and a beta of 0.81. The company has a 50-day moving average of $4.40 and a 200-day moving average of $3.55.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $0.05 million. As a group, analysts expect that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALLO. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth approximately $27,000. EP Wealth Advisors LLC purchased a new stake in Allogene Therapeutics in the 3rd quarter worth approximately $34,000. Aaron Wealth Advisors LLC purchased a new stake in Allogene Therapeutics in the 4th quarter worth approximately $34,000. Axxcess Wealth Management LLC purchased a new stake in Allogene Therapeutics in the 4th quarter worth approximately $34,000. Finally, Victory Capital Management Inc. purchased a new stake in Allogene Therapeutics in the 3rd quarter worth approximately $37,000. 83.63% of the stock is currently 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).