Allogene Therapeutics (NASDAQ:ALLO) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Allogene Therapeutics (NASDAQ:ALLO) issued its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06, Zacks reports.

Allogene Therapeutics Trading Up 2.6 %

Shares of ALLO stock opened at $1.94 on Friday. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.89. The firm’s fifty day moving average price is $1.94 and its two-hundred day moving average price is $2.32. The firm has a market capitalization of $406.76 million, a P/E ratio of -1.24 and a beta of 1.02.

Insider Transactions at Allogene Therapeutics

In related news, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the transaction, the insider now owns 250,713 shares in the company, valued at approximately $428,719.23. This represents a 5.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zachary Roberts sold 27,199 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,710 shares of company stock worth $92,125 in the last ninety days. Insiders own 24.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALLO. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday. Finally, Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $9.40.

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).