Allogene Therapeutics (NASDAQ:ALLO) Announces Earnings Results, Beats Estimates By $0.04 EPS

Allogene Therapeutics (NASDAQ:ALLO) announced its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.04, FiscalAI reports. The firm had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million.

Allogene Therapeutics Price Performance

Shares of NASDAQ ALLO traded down $0.05 during trading on Wednesday, hitting $2.07. 4,502,196 shares of the company were exchanged, compared to its average volume of 8,248,292. The company has a market cap of $714.47 million, a price-to-earnings ratio of -2.69 and a beta of 0.48. Allogene Therapeutics has a 1 year low of $0.99 and a 1 year high of $4.46. The firm’s fifty day moving average price is $1.95 and its 200 day moving average price is $2.11.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV boosted its position in Allogene Therapeutics by 23.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock worth $40,000 after acquiring an additional 5,514 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Allogene Therapeutics by 27.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after acquiring an additional 8,519 shares during the last quarter. Zacks Investment Management raised its holdings in Allogene Therapeutics by 2.7% in the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock valued at $652,000 after acquiring an additional 13,831 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Allogene Therapeutics by 20.5% during the 4th quarter. Intech Investment Management LLC now owns 86,637 shares of the company’s stock worth $119,000 after purchasing an additional 14,742 shares during the period. Finally, Virtu Financial LLC lifted its stake in shares of Allogene Therapeutics by 55.9% during the 4th quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock worth $58,000 after purchasing an additional 15,178 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALLO. JPMorgan Chase & Co. upgraded shares of Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Thursday, April 16th. Sanford C. Bernstein raised their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a research report on Tuesday, April 14th. Citizens Jmp lifted their price objective on Allogene Therapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, April 14th. HC Wainwright boosted their target price on Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Citigroup reissued an “outperform” rating on shares of Allogene Therapeutics in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.52.

About Allogene Therapeutics

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.