Fidelity Management & Research Co recently announced the acquisition of new stake in Allogene Therapeutics Inc (NASDAQ:ALLO). The institutional investor has increased its shareholding in the Healthcare company by 0.91% to 25.14 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 14.94% valued currently at $59.09 million. In addition, The Vanguard Group, Inc. raised its holdings by 3.09 million to 10.45 million shares. And BlackRock Fund Advisors has lifted its position by 7.67% or 0.51 million shares – to 7.21 million shares.
With over 9.61 million Allogene Therapeutics Inc (ALLO) shares trading Friday and a closing price of $2.91 on the day, the dollar volume was approximately $27.98 million. The shares have shown a negative half year performance of -46.22% and its price on 01/05/24 lost nearly -14.01%. Currently, there are 144.44M common shares owned by the public and among those 105.98M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for ALLO have a consensus price objective of $11.92. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $4.50. The average price target is 75.59% above its recent price level and an upside to the estimated low will see the stock gain 35.33% over that period. But an upside of 91.69% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 6,486,902 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 106,198 shares.
The top 3 mutual fund holders in Allogene Therapeutics Inc are SPDR S&P Biotech ETF, Fidelity Select Port. – Health Ca, and Vanguard Total Stock Market ETF. SPDR S&P Biotech ETF owns 6.9 million shares of the company’s stock, all valued at over $16.21 million. The company bought an additional 32160.0 shares recently to bring their total holdings to about 4.10% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.30% of the shares outstanding.
Shares of Allogene Therapeutics Inc (NASDAQ: ALLO) opened at $2.80, down -$0.59 from a prior closing price of $3.39. However, the script later moved the day high at 2.9300, down -14.01%. The company’s stock has a 5-day price change of -10.86% and -7.46% over the past three months. ALLO shares are trading -9.19% year to date (YTD), with the 12-month market performance down to -49.74% lower. It has a 12-month low price of $2.23 and touched a high of $8.44 over the same period. ALLO has an average intraday trading volume of 2.47 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.69%, 4.13%, and -31.08% respectively.
Institutional ownership of Allogene Therapeutics Inc (NASDAQ: ALLO) shares accounts for 65.88% of the company’s 144.44M shares outstanding. Mutual fund holders own 41.42%, while other institutional holders and individual stakeholders account for 46.45% and 24.91% respectively.
It has a market capitalization of $490.54M and a beta (3y monthly) value of 0.71. The earnings-per-share (ttm) stands at -$2.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.44% over the week and 9.32% over the month.
Analysts forecast that Allogene Therapeutics Inc (ALLO) will achieve an EPS of -$0.45 for the current quarter, -$0.45 for the next quarter and -$1.78 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.62 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$0.66 a year ago. Earnings per share for the fiscal year are expected to increase by 13.40%, and 12.87% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Allogene Therapeutics Inc (ALLO) as a “Strong Buy” at a consensus score of 1.65. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 5 of the 17 advise that investors “hold,” and 0 rated it as a “Sell.”
