Allogene Therapeutics (NASDAQ:ALLO) Posts Earnings Results, Beats Expectations By $0.08 EPS

Allogene Therapeutics (NASDAQ:ALLO) announced its quarterly earnings results on Thursday. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.08, FiscalAI reports.

Allogene Therapeutics Trading Down 6.1%

Shares of NASDAQ:ALLO traded down $0.16 during mid-day trading on Thursday, reaching $2.47. The company had a trading volume of 3,265,936 shares, compared to its average volume of 5,711,360. Allogene Therapeutics has a one year low of $0.86 and a one year high of $2.80. The company’s 50-day moving average price is $1.89 and its 200-day moving average price is $1.49. The firm has a market cap of $555.08 million, a price-to-earnings ratio of -2.52 and a beta of 0.50.

Insider Transactions at Allogene Therapeutics

In other news, CEO David D. Chang sold 95,269 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total value of $171,484.20. Following the completion of the transaction, the chief executive officer directly owned 5,185,862 shares of the company’s stock, valued at $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Geoffrey M. Parker sold 24,001 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the completion of the transaction, the chief financial officer owned 1,252,795 shares of the company’s stock, valued at approximately $2,204,919.20. This trade represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 222,987 shares of company stock worth $396,969. Insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC raised its stake in Allogene Therapeutics by 55.9% in the fourth quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock valued at $58,000 after purchasing an additional 15,178 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Allogene Therapeutics by 16.1% during the 4th quarter. Invesco Ltd. now owns 609,807 shares of the company’s stock worth $835,000 after acquiring an additional 84,494 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Allogene Therapeutics by 23.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock worth $40,000 after purchasing an additional 5,514 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in shares of Allogene Therapeutics by 116.8% in the 4th quarter. Virtus Investment Advisers LLC now owns 176,178 shares of the company’s stock valued at $241,000 after purchasing an additional 94,902 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Allogene Therapeutics by 15.3% during the fourth quarter. Quadrature Capital Ltd now owns 274,416 shares of the company’s stock valued at $376,000 after buying an additional 36,479 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on ALLO shares. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Friday, January 9th. Citigroup upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. UBS Group initiated coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.40.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.