HC Wainwright Issues Pessimistic Forecast for Allogene Therapeutics (NASDAQ:ALLO) Stock Price

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) had its price target cut by investment analysts at HC Wainwright from $9.00 to $8.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 393.83% from the company's previous close. HC Wainwright also issued estimates for Allogene Therapeutics' Q1 2025 earnings at ($0.27) EPS, Q2 2025 earnings at ($0.28) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.30) EPS and FY2025 earnings at ($1.14) EPS.

A number of other equities research analysts have also recently weighed in on the stock. Canaccord Genuity Group reiterated a "buy" rating and set a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. Citizens Jmp upgraded shares of Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Friday, March 14th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $9.29.

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Allogene Therapeutics Trading Down 0.6 %

ALLO stock traded down $0.01 during trading on Wednesday, reaching $1.62. 10,012,923 shares of the stock were exchanged, compared to its average volume of 3,100,964. The business has a 50 day moving average price of $1.89 and a 200-day moving average price of $2.28. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.63. The firm has a market capitalization of $351.97 million, a price-to-earnings ratio of -1.04 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.06. On average, research analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Activity at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the completion of the transaction, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1.96, for a total transaction of $91,469.28. Following the sale, the chief executive officer now owns 5,276,569 shares of the company's stock, valued at $10,342,075.24. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,866 shares of company stock worth $194,461. Corporate insiders own 24.30% of the company's stock.

Institutional Trading of Allogene Therapeutics

Several institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in shares of Allogene Therapeutics by 6.0% during the 4th quarter. California State Teachers Retirement System now owns 135,554 shares of the company's stock worth $289,000 after buying an additional 7,685 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Allogene Therapeutics by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 270,559 shares of the company's stock worth $576,000 after buying an additional 41,753 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Allogene Therapeutics by 12.1% during the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock worth $5,756,000 after buying an additional 291,800 shares during the last quarter. Rafferty Asset Management LLC lifted its position in shares of Allogene Therapeutics by 15.9% during the 4th quarter. Rafferty Asset Management LLC now owns 367,445 shares of the company's stock worth $783,000 after buying an additional 50,499 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in Allogene Therapeutics in the 4th quarter valued at $903,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Company Profile

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).