Allogene Therapeutics (NASDAQ:ALLO) Trading Down 6.4%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) shares traded down 6.4% during trading on Tuesday . The stock traded as low as $2.60 and last traded at $2.62. 971,245 shares changed hands during trading, a decline of 61% from the average session volume of 2,513,080 shares. The stock had previously closed at $2.80.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup boosted their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research report on Thursday, August 15th. Oppenheimer assumed coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 price objective on the stock. Canaccord Genuity Group lowered their price objective on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Truist Financial reissued a “buy” rating and set a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.96.

Allogene Therapeutics Trading Down 6.1 %

The company has a market cap of $549.67 million, a PE ratio of -1.46 and a beta of 0.83. The company has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.92.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. On average, research analysts anticipate that Allogene Therapeutics, Inc. will post -1.38 EPS for the current fiscal year.

Institutional Trading of Allogene Therapeutics

A number of large investors have recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $6,349,000. Algert Global LLC acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $35,000. Susquehanna Fundamental Investments LLC boosted its position in shares of Allogene Therapeutics by 46.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 418,699 shares of the company’s stock valued at $976,000 after purchasing an additional 132,291 shares during the period. Lynx1 Capital Management LP acquired a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $5,192,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Allogene Therapeutics by 70.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after purchasing an additional 198,231 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.

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).