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

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

Allogene Therapeutics Price Performance

ALLO traded down $0.17 during trading on Thursday, reaching $1.89. 1,980,427 shares of the stock traded hands, compared to its average volume of 3,078,132. Allogene Therapeutics has a fifty-two week low of $1.32 and a fifty-two week high of $5.11. The stock’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $2.33. The stock has a market cap of $396.28 million, a price-to-earnings ratio of -1.21 and a beta of 1.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday, November 14th. Piper Sandler dropped their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.95.

Insider Activity

In other news, EVP Zachary Roberts sold 27,199 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the sale, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy L. Moore sold 14,746 shares of the 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 directly owns 250,713 shares in the company, valued at approximately $428,719.23. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,710 shares of company stock worth $92,125 in the last three months. 24.30% of the stock is owned by insiders.

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).