Allogene Therapeutics (NASDAQ:ALLO) Shares Down 5.4% - Should You Sell?

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) shares were down 5.4% during trading on Thursday . The stock traded as low as $2.61 and last traded at $2.62. Approximately 567,651 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,442,018 shares. The stock had previously closed at $2.77.

Analysts Set New Price Targets

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

Allogene Therapeutics Trading Down 8.3 %

The business has a fifty day moving average of $2.68 and a 200-day moving average of $2.74. The company has a market cap of $530.86 million, a PE ratio of -1.46 and a beta of 0.83.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its earnings results 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%. As a group, research analysts predict that Allogene Therapeutics, Inc. will post -1.38 EPS for the current year.

Institutional Trading of Allogene Therapeutics

A number of hedge funds have recently modified their holdings of the business. Private Advisor Group LLC bought a new position in shares of Allogene Therapeutics in the 3rd quarter worth about $34,000. Creative Planning increased its stake in shares of Allogene Therapeutics by 108.7% during the third quarter. Creative Planning now owns 61,396 shares of the company's stock valued at $172,000 after purchasing an additional 31,984 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Allogene Therapeutics by 25.5% during the third quarter. Exchange Traded Concepts LLC now owns 60,675 shares of the company's stock valued at $170,000 after purchasing an additional 12,328 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Allogene Therapeutics by 252.7% in the 3rd quarter. SG Americas Securities LLC now owns 46,967 shares of the company's stock worth $132,000 after purchasing an additional 33,651 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new position in Allogene Therapeutics during the 2nd quarter valued at approximately $6,349,000. Institutional investors own 83.63% of the company's stock.

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).