Q3 2024 EPS Estimates for Allogene Therapeutics, Inc. Raised by HC Wainwright (NASDAQ:ALLO)

Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Stock analysts at HC Wainwright upped their Q3 2024 earnings estimates for Allogene Therapeutics in a report issued on Thursday, August 15th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings per share of ($0.30) for the quarter, up from their prior forecast of ($0.33). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Allogene Therapeutics’ Q4 2024 earnings at ($0.32) EPS, FY2024 earnings at ($1.32) EPS, Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.35) EPS, Q4 2025 earnings at ($0.36) EPS and FY2025 earnings at ($1.39) EPS.

Several other research analysts have also recently weighed in on ALLO. Canaccord Genuity Group cut their price target on shares of 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 reaffirmed a “buy” rating and issued a $14.00 price objective (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Citigroup lifted their price objective on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Oppenheimer assumed coverage on shares of Allogene Therapeutics in a research report on Thursday, August 8th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the stock a “hold” rating in a research report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $9.96.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $2.64 on Monday. Allogene Therapeutics has a fifty-two week low of $2.01 and a fifty-two week high of $5.78. The stock has a market cap of $551.76 million, a PE ratio of -1.47 and a beta of 0.85. The firm’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $3.35.

Insiders Place Their Bets

In other news, Director Franz B. Humer sold 11,200 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $2.34, for a total value of $26,208.00. Following the completion of the sale, the director now owns 255,253 shares of the company’s stock, valued at approximately $597,292.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $6,349,000. Algert Global LLC bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $35,000. Susquehanna Fundamental Investments LLC raised its holdings in Allogene Therapeutics by 46.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 418,699 shares of the company’s stock valued at $976,000 after buying an additional 132,291 shares during the last quarter. Lynx1 Capital Management LP bought a new stake in Allogene Therapeutics during the 2nd quarter valued at $5,192,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Allogene Therapeutics by 70.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after buying an additional 198,231 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.

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).