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

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s stock price fell 6.1% on Monday . The company traded as low as $3.55 and last traded at $3.57. 616,163 shares changed hands 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

A number of brokerages recently weighed in on ALLO. JPMorgan Chase & Co. lowered their price objective 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 target price on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 15th. Guggenheim lowered shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Finally, JMP Securities reissued a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Allogene Therapeutics Stock Up 0.3 %

The business’s fifty day simple moving average is $4.54 and its two-hundred day simple moving average is $3.54.

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, beating analysts’ consensus estimates 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 firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts predict that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Penserra Capital Management LLC bought a new position in shares of Allogene Therapeutics during the 1st quarter worth about $66,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Allogene Therapeutics during the 4th quarter worth about $27,000. Great West Life Assurance Co. Can increased its position in shares of Allogene Therapeutics by 26.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 8,827 shares of the company’s stock worth $43,000 after purchasing an additional 1,826 shares in the last quarter. Nordwand Advisors LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth about $60,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Allogene Therapeutics during the 1st quarter worth about $49,000. 83.63% of the stock is 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).