Allogene Therapeutics (NASDAQ:ALLO) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Allogene Therapeutics (NASDAQ:ALLO) released its earnings results on Tuesday, May 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.08, MarketWatch Earnings reports.

Shares of NASDAQ:ALLO traded down $0.71 during trading on Friday, hitting $26.23. The company had a trading volume of 299,666 shares, compared to its average volume of 425,663. The firm has a market capitalization of $3.21 billion and a price-to-earnings ratio of -3.99. Allogene Therapeutics has a one year low of $21.67 and a one year high of $35.55.

ALLO has been the subject of several research analyst reports. William Blair started coverage on Allogene Therapeutics in a research report on Wednesday, March 13th. They set an “outperform” rating for the company. JPMorgan Chase & Co. reissued a “hold” rating and set a $29.00 price target on shares of Allogene Therapeutics in a research note on Monday, March 11th. Piper Jaffray Companies started coverage on Allogene Therapeutics in a research note on Friday, March 29th. They set an “overweight” rating and a $50.00 price target for the company. Cowen reissued a “buy” rating on shares of Allogene Therapeutics in a research note on Friday, March 8th. Finally, Oppenheimer started coverage on Allogene Therapeutics in a research note on Friday, May 3rd. They set an “outperform” rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.63.

In other news, major shareholder Group Holdings (Sbs) Advis Tpg sold 1,918,755 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $29.38, for a total value of $56,373,021.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in shares of Allogene Therapeutics by 0.4% in the first quarter. First Trust Advisors LP now owns 101,816 shares of the company’s stock worth $2,944,000 after buying an additional 375 shares during the period. Rhumbline Advisers raised its holdings in shares of Allogene Therapeutics by 1.8% in the first quarter. Rhumbline Advisers now owns 31,348 shares of the company’s stock worth $906,000 after buying an additional 560 shares during the period. TD Asset Management Inc. raised its holdings in shares of Allogene Therapeutics by 2.4% in the first quarter. TD Asset Management Inc. now owns 25,643 shares of the company’s stock worth $741,000 after buying an additional 600 shares during the period. Barclays PLC purchased a new stake in shares of Allogene Therapeutics in the fourth quarter worth approximately $27,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Allogene Therapeutics by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 63,211 shares of the company’s stock worth $1,827,000 after buying an additional 1,924 shares during the period. Hedge funds and other institutional investors own 53.47% of the company’s stock.

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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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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