Allogene Therapeutics (NASDAQ:ALLO) Stock Price Down 6.1%

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) traded down 6.1% during trading on Monday . The stock traded as low as $3.55 and last traded at $3.57. 616,163 shares were traded during trading, a decline of 76% from the average session volume of 2,606,654 shares. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 15th. Guggenheim downgraded shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. JMP Securities reissued a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Allogene Therapeutics Stock Up 0.3 %

The stock has a 50 day moving average of $4.54 and a 200-day moving average of $3.54.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. On average, equities analysts anticipate that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLO. Oppenheimer & Co. Inc. raised its stake in Allogene Therapeutics by 24.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock valued at $137,000 after acquiring an additional 3,000 shares during the period. AlphaCrest Capital Management LLC increased its position in shares of Allogene Therapeutics by 83.4% during the first quarter. AlphaCrest Capital Management LLC now owns 49,574 shares of the company’s stock valued at $452,000 after buying an additional 22,540 shares during the period. MetLife Investment Management LLC increased its position in shares of Allogene Therapeutics by 58.6% during the first quarter. MetLife Investment Management LLC now owns 36,326 shares of the company’s stock valued at $331,000 after buying an additional 13,419 shares during the period. BlackRock Inc. increased its position in shares of Allogene Therapeutics by 8.6% during the first quarter. BlackRock Inc. now owns 7,086,233 shares of the company’s stock valued at $64,557,000 after buying an additional 560,279 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Allogene Therapeutics by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 805,987 shares of the company’s stock valued at $7,344,000 after buying an additional 61,259 shares during the period. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Company Profile

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).