Allogene Therapeutics (NASDAQ:ALLO) Shares Down 3.6%

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

Analysts Set New Price Targets

ALLO has been the subject of a number of research reports. Guggenheim lowered shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. JPMorgan Chase & Co. decreased 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. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.94.

Allogene Therapeutics Price Performance

The stock has a market cap of $522.49 million, a price-to-earnings ratio of -1.52 and a beta of 0.81. The company’s fifty day moving average price is $4.44 and its 200-day moving average price is $3.55.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.43) earnings per share 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 the consensus estimate of $0.05 million. On average, sell-side analysts forecast that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its holdings in Allogene Therapeutics by 0.9% in the 3rd quarter. FMR LLC now owns 25,143,931 shares of the company’s stock worth $79,706,000 after buying an additional 225,976 shares during the period. Citigroup Inc. grew its stake in shares of Allogene Therapeutics by 20.4% during the 3rd quarter. Citigroup Inc. now owns 338,756 shares of the company’s stock worth $1,074,000 after purchasing an additional 57,392 shares during the period. Swiss National Bank grew its stake in shares of Allogene Therapeutics by 3.0% during the 3rd quarter. Swiss National Bank now owns 192,400 shares of the company’s stock worth $610,000 after purchasing an additional 5,600 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $172,000. Finally, Barclays PLC grew its stake in shares of Allogene Therapeutics by 17.6% during the 3rd quarter. Barclays PLC now owns 786,793 shares of the company’s stock worth $2,495,000 after purchasing an additional 117,596 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).