Allogene Therapeutics (NASDAQ:ALLO) Shares Down 3.6%

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price traded down 3.6% during mid-day trading on Wednesday . The stock traded as low as $3.24 and last traded at $3.25. 110,132 shares traded 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

Several equities research analysts recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut their target price 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 reiterated an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 15th. Finally, Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.94.

Allogene Therapeutics Stock Down 8.3 %

The company’s fifty day moving average price is $4.44 and its 200 day moving average price is $3.55. The company has a market capitalization of $522.49 million, a P/E ratio of -1.52 and a beta of 0.81.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, topping 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 company had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. Research analysts predict that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC increased its stake in Allogene Therapeutics by 12.8% in the first quarter. Bourgeon Capital Management LLC now owns 57,200 shares of the company’s stock valued at $256,000 after acquiring an additional 6,500 shares during the last quarter. Caxton Associates LP increased its stake in Allogene Therapeutics by 61.4% in the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock valued at $2,488,000 after acquiring an additional 294,989 shares during the last quarter. Pennant Investors LP bought a new position in Allogene Therapeutics in the fourth quarter valued at approximately $412,000. Superstring Capital Management LP bought a new position in Allogene Therapeutics in the fourth quarter valued at approximately $713,000. Finally, Affinity Asset Advisors LLC bought a new position in Allogene Therapeutics in the fourth quarter valued at approximately $1,284,000. 83.63% of the stock is 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).