Allogene Therapeutics (NASDAQ:ALLO) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Allogene Therapeutics (NASDAQ:ALLO) announced its quarterly earnings data on Thursday. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04, Zacks reports.

Allogene Therapeutics Stock Up 12.4%

Shares of Allogene Therapeutics stock traded up $0.13 during trading hours on Friday, hitting $1.18. The company’s stock had a trading volume of 3,136,850 shares, compared to its average volume of 2,768,444. The business has a fifty day moving average of $1.21 and a 200 day moving average of $1.24. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $3.78. The company has a market capitalization of $261.82 million, a PE ratio of -1.20 and a beta of 0.42.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Wall Street Zen lowered shares of Allogene Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, October 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. Finally, JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.44.

Insider Buying and Selling

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total transaction of $46,297.44. Following the transaction, the chief financial officer owned 1,276,796 shares in the company, valued at $1,608,762.96. The trade was a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co lifted its position in Allogene Therapeutics by 142.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock worth $35,000 after acquiring an additional 18,314 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Allogene Therapeutics by 5.2% during the second quarter. Cerity Partners LLC now owns 400,267 shares of the company’s stock valued at $452,000 after purchasing an additional 19,843 shares during the period. Rhumbline Advisers lifted its position in shares of Allogene Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 209,336 shares of the company’s stock worth $237,000 after purchasing an additional 25,628 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Allogene Therapeutics in the second quarter valued at $37,000. Finally, Bank of America Corp DE grew its holdings in Allogene Therapeutics by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 987,495 shares of the company’s stock valued at $1,116,000 after purchasing an additional 38,686 shares in the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

About 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 acute lymphoblastic leukemia (ALL).