Allogene Therapeutics (NASDAQ:ALLO) Stock Price Up 6.6%

Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) rose 6.6% during trading on Monday . The company traded as high as $3.10 and last traded at $3.08. Approximately 110,079 shares were traded during trading, a decline of 96% from the average daily volume of 2,520,558 shares. The stock had previously closed at $2.89.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 15th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. 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 report on Tuesday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.94.

Allogene Therapeutics Stock Performance

The firm’s 50 day moving average is $4.32 and its 200 day moving average 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.04. The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.05 million. Allogene Therapeutics had a negative net margin of 202,366.25% and a negative return on equity of 53.76%. On average, analysts forecast that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Allogene Therapeutics by 23.1% in the fourth quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock valued at $46,000 after purchasing an additional 2,680 shares during the period. Vontobel Holding Ltd. increased its position in shares of Allogene Therapeutics by 28.6% during the fourth quarter. Vontobel Holding Ltd. now owns 18,000 shares of the company’s stock valued at $58,000 after acquiring an additional 4,000 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Allogene Therapeutics by 1.7% during the third quarter. Principal Financial Group Inc. now owns 266,154 shares of the company’s stock valued at $844,000 after acquiring an additional 4,531 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Allogene Therapeutics by 7.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 73,510 shares of the company’s stock valued at $236,000 after acquiring an additional 4,991 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Allogene Therapeutics by 22.2% in the fourth quarter. Arizona State Retirement System now owns 30,458 shares of the company’s stock valued at $98,000 after purchasing an additional 5,543 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).