Ieq Capital LLC reduced its ownership in Allogene Therapeutics, Inc. (ALLO:NSD) by 48.8% during the fourth quarter of the fiscal year, according to its latest 13F filing with the Securities and Exchange Commission. The institutional investor sold 21,000 shares, leaving it with 22,000 shares of the ALLO stock valued at $138,000.
Other large investors have also recently made changes to their holdings in the company, including ProShare Advisors LLC, which increased its stake in Allogene Therapeutics by 6.2% during the fourth quarter, and Zurcher Kantonalbank Zurich Cantonalbank, which raised its stake by 25.3%.
Nordwand Advisors LLC acquired a new position in the company, while Bourgeon Capital Management LLC and Rothschild Investment Corp IL increased their stakes by 155.3% and 61.4%, respectively. Institutional investors now own 72.94% of Allogene Therapeutics’ stock.
ALLO Stock Price Analysis:
Allogene Therapeutics’ shares opened at $5.53 on Tuesday, with a 50-day moving average price of $5.43 and a 200-day moving average price of $7.23. The company’s market capitalization is $806.17 million, and its PE ratio is -2.38, with a beta of 0.77. Allogene Therapeutics’ 1-year low is $4.42, while its high is $17.49.
Currently, the stock has a consensus rating of “Strong Buy” and a consensus ALLO stock price target of $15.50, according to data from Stock Target Advisor.
Quarterly Earnings Review:
Allogene Therapeutics reported earnings data on Tuesday, February 28th. The company posted earnings per share of ($0.66) for the quarter, surpassing analysts’ consensus estimates of ($0.71) by $0.05. Its revenue for the quarter was $0.05 million, compared to analysts’ expectations 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 company’s revenue for the quarter decreased by 6.0% compared to the same period in the previous year. The firm’s average EPS estimate for the current year is -2.44.
ALLO Stock Forecast-Analyst Ratings:
Several analysts have commented on Allogene Therapeutics’ stock. William Blair reiterated an “outperform” rating on shares of the company in a research report on Wednesday, March 22nd, while EF Hutton Acquisition Co. I also reissued a “buy” rating with a $15.00 target price.
Truist Financial lowered its target price on shares of the company from $29.00 to $20.00, and The Goldman Sachs Group and Oppenheimer both reduced their price objectives on 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 ALL.
It also has a strategic collaboration agreement with The University of Texas MD Anderson Cancer Center for the preclinical and clinical investigation of allogeneic CAR T cell product candidates. The company was incorporated in 2017 and is headquartered in South San Francisco, California.