B. Riley Weighs in on Allogene Therapeutics, Inc.’s Q1 2023 Earnings (NASDAQ:ALLO)

Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) – Research analysts at B. Riley issued their Q1 2023 EPS estimates for Allogene Therapeutics in a research note issued on Wednesday, March 1st. B. Riley analyst K. Patel anticipates that the company will post earnings per share of ($0.72) for the quarter. The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($2.83) per share. B. Riley also issued estimates for Allogene Therapeutics’ Q4 2023 earnings at ($0.57) EPS.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird upgraded shares of Allogene Therapeutics from a “neutral” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Friday, January 6th. They noted that the move was a valuation call. JMP Securities decreased their price objective on shares of Allogene Therapeutics from $23.00 to $19.00 and set a “market perform” rating for the company in a research note on Thursday. Bank of America lowered shares of Allogene Therapeutics from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $24.00 to $9.00 in a research note on Monday, December 12th. The Goldman Sachs Group decreased their price objective on shares of Allogene Therapeutics from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of Allogene Therapeutics from $32.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Allogene Therapeutics Price Performance

NASDAQ ALLO opened at $6.02 on Thursday. Allogene Therapeutics has a 12 month low of $5.41 and a 12 month high of $17.49. The firm has a market capitalization of $868.14 million, a PE ratio of -2.59 and a beta of 0.81. The company’s 50 day simple moving average is $6.79 and its 200 day simple moving average is $9.62.

Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.05. Allogene Therapeutics had a negative net margin of 136,885.59% and a negative return on equity of 41.63%. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the business earned ($0.54) earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis.

Insider Activity

In other news, General Counsel Veer Bhavnagri sold 5,602 shares of the firm’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $7.53, for a total transaction of $42,183.06. Following the transaction, the general counsel now owns 583,677 shares in the company, valued at approximately $4,395,087.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 11,602 shares of company stock worth $83,853. 29.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CI Investments Inc. increased its holdings in shares of Allogene Therapeutics by 80.5% during the 2nd quarter. CI Investments Inc. now owns 2,193 shares of the company’s stock worth $25,000 after purchasing an additional 978 shares during the period. Rockefeller Capital Management L.P. boosted its position in Allogene Therapeutics by 9.7% in the third quarter. Rockefeller Capital Management L.P. now owns 14,083 shares of the company’s stock valued at $151,000 after buying an additional 1,248 shares in the last quarter. ProShare Advisors LLC boosted its position in Allogene Therapeutics by 6.2% in the fourth quarter. ProShare Advisors LLC now owns 22,181 shares of the company’s stock valued at $140,000 after buying an additional 1,297 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Allogene Therapeutics by 10.0% in the second quarter. Oppenheimer & Co. Inc. now owns 16,550 shares of the company’s stock valued at $189,000 after buying an additional 1,500 shares in the last quarter. Finally, US Bancorp DE boosted its position in Allogene Therapeutics by 41.9% in the second quarter. US Bancorp DE now owns 5,474 shares of the company’s stock valued at $63,000 after buying an additional 1,616 shares in the last quarter. Institutional investors own 72.94% of the company’s stock.

Allogene Therapeutics Company Profile

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Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.