Allogene Therapeutics (NASDAQ:ALLO) Reaches New 52-Week Low at $5.36

Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.36 and last traded at $5.44, with a volume of 185132 shares traded. The stock had previously closed at $5.66.

Analysts Set New Price Targets

ALLO has been the subject of several research reports. Oppenheimer decreased their price target on shares of Allogene Therapeutics from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. The Goldman Sachs Group decreased their price target on shares of Allogene Therapeutics from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. HC Wainwright decreased their price target on shares of Allogene Therapeutics from $43.00 to $29.00 and set a “buy” rating for the company in a research note on Monday, November 21st. Robert W. Baird upgraded shares of Allogene Therapeutics from a “neutral” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Friday, January 6th. They noted that the move was a valuation call. Finally, EF Hutton Acquisition Co. I reissued a “buy” rating and set a $15.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

Allogene Therapeutics Stock Performance

The business’s fifty day moving average price is $6.76 and its 200-day moving average price is $8.95. The stock has a market cap of $793.31 million, a PE ratio of -2.37 and a beta of 0.81.

Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.05. The firm had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.06 million. Allogene Therapeutics had a negative net margin of 136,885.59% and a negative return on equity of 43.44%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.54) EPS. Analysts forecast that Allogene Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Institutional Trading of Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Point72 Middle East FZE purchased a new stake in shares of Allogene Therapeutics during the 4th quarter valued at about $354,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Allogene Therapeutics during the 4th quarter valued at about $1,228,000. Millennium Management LLC boosted its holdings in shares of Allogene Therapeutics by 134.5% during the 4th quarter. Millennium Management LLC now owns 3,275,124 shares of the company’s stock valued at $20,601,000 after acquiring an additional 1,878,645 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Allogene Therapeutics by 38.1% in the fourth quarter. Morgan Stanley now owns 850,479 shares of the company’s stock worth $5,350,000 after buying an additional 234,460 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Allogene Therapeutics in the fourth quarter worth approximately $5,560,000. Hedge funds and other institutional investors own 72.94% of the company’s stock.

About Allogene Therapeutics

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Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.