Allogene Therapeutics (NASDAQ:ALLO) Posts Earnings Results, Hits Estimates

Allogene Therapeutics (NASDAQ:ALLO) posted its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15), FiscalAI reports.

Here are the key takeaways from Allogene Therapeutics’ conference call:

• Allogene said ALPHA3 showed encouraging rapid MRD clearance, an early favorable safety profile, and feasibility at community practices, including sites without prior CAR-T experience. Management reported stronger screening and enrollment activity, and remains on track to complete enrollment by the end of 2027.
• The planned mid-2027 ALPHA3 look at event-free survival is not guaranteed to produce an unblinded or positive result: management emphasized that the data safety monitoring board will decide whether to continue the trial, and that the interim analysis has only a small allocation of statistical alpha.
• For ALLO-329, management reported no high-grade toxicities or cases of IEC-HS to date and said expanded data would cover multiple dose levels and conditioning approaches. The company is evaluating whether the therapy can deliver activity with reduced or no chemotherapy-based lymphodepletion; the program remains early-stage.
• Allogene said scleroderma has become the most active enrollment pathway for ALLO-329, while the RESOLUTION trial remains open to lupus and myositis patients. CFO Geoff Parker is retiring, and the company said its CFO search is ongoing, with finance operations overseen by SVP Annie Yoshiyama in the interim.

Allogene Therapeutics Price Performance

Shares of ALLO traded down $0.10 during mid-day trading on Thursday, hitting $1.09. The company’s stock had a trading volume of 15,276,890 shares, compared to its average volume of 8,864,196. The firm has a 50-day moving average price of $1.54 and a 200 day moving average price of $1.96. The stock has a market capitalization of $376.58 million, a price-to-earnings ratio of -1.63 and a beta of 0.76. Allogene Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $4.46.

Analysts Set New Price Targets

A number of brokerages have issued reports on ALLO. William Blair raised Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Weiss Ratings raised Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $8.30.

Insider Buying and Selling

In related news, CFO Geoffrey M. Parker sold 36,342 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The shares were sold at an average price of $1.34, for a total transaction of $48,698.28. Following the completion of the sale, the chief financial officer directly owned 1,045,877 shares in the company, valued at approximately $1,401,475.18. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Earl Douglas sold 29,697 shares of Allogene Therapeutics stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is owned by insiders.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company’s investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.