Allogene Therapeutics, Inc. to Post Q3 2024 Earnings of ($0.37) Per Share, Zacks Research Forecasts (NASDAQ:ALLO)

Allogene Therapeutics, Inc. (NASDAQ:ALLO) – Equities researchers at Zacks Research boosted their Q3 2024 earnings estimates for Allogene Therapeutics in a report released on Wednesday, August 28th. Zacks Research analyst R. Department now expects that the company will earn ($0.37) per share for the quarter, up from their prior forecast of ($0.39). The consensus estimate for Allogene Therapeutics’ current full-year earnings is ($1.38) per share. Zacks Research also issued estimates for Allogene Therapeutics’ Q4 2024 earnings at ($0.39) EPS, FY2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.38) EPS, Q3 2025 earnings at ($0.40) EPS, Q4 2025 earnings at ($0.44) EPS, FY2025 earnings at ($1.60) EPS, Q1 2026 earnings at ($0.45) EPS, Q2 2026 earnings at ($0.45) EPS and FY2026 earnings at ($1.88) EPS.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data 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 net margin of 223,139.98% and a negative return on equity of 50.24%.

ALLO has been the topic of several other research reports. Oppenheimer assumed coverage on Allogene Therapeutics in a report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price target on the stock. Piper Sandler initiated coverage on shares of Allogene Therapeutics in a research note on Friday, May 31st. They set an “overweight” rating and a $11.00 target price on the stock. Truist Financial reissued a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Stifel Nicolaus lifted their price target on shares of Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. Finally, Citigroup upped their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.96.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock opened at $2.63 on Monday. The business’s 50 day moving average price is $2.61 and its 200 day moving average price is $3.25. The company has a market cap of $549.96 million, a price-to-earnings ratio of -1.47 and a beta of 0.85. Allogene Therapeutics has a one year low of $2.01 and a one year high of $5.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at $6,349,000. Lynx1 Capital Management LP acquired a new stake in shares of Allogene Therapeutics during the second quarter worth about $5,192,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Allogene Therapeutics by 76.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Allogene Therapeutics by 340.4% in the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock valued at $4,073,000 after purchasing an additional 1,351,055 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Allogene Therapeutics by 24.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock worth $5,944,000 after buying an additional 507,021 shares during the period. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

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).