SSgA Funds Management, Inc. 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 37.22% to 9.17 million shares with purchase of 2.49 million shares. This fresh investment now brings its stake to 6.34% valued currently at $49.77 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.1 million to 7.13 million shares. And BlackRock Fund Advisors has lifted its position by 0.33% or 23231.0 shares – to 6.97 million shares.
With over 1.77 million Allogene Therapeutics Inc. (ALLO) shares trading Tuesday and a closing price of $6.05 on the day, the dollar volume was approximately $10.71 million. The shares have shown a negative half year performance of -40.92% and its price on 05/23/23 lost nearly -0.66%. Currently, there are 144.56M common shares owned by the public and among those 84.55M shares have been available to trade.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for ALLO have a consensus price objective of $16.91. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $6.00. The average price target is 65.61% above its recent price level and a downside to the estimated low will see the stock lose -0.83% over that period. But an upside of 82.71% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 3,684,122 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 165,232 shares.
The top 3 mutual fund holders in Allogene Therapeutics Inc. are SPDR S&P Biotech ETF, American Funds Small Cap World Fu, and Vanguard Capital Opportunity Fund. SPDR S&P Biotech ETF owns 5.83 million shares of the company’s stock, all valued at over $31.67 million. The company bought an additional 0.1 million shares recently to bring their total holdings to about 4.04% of the shares outstanding. Vanguard Capital Opportunity Fund bought 31500.0 shares to bring its total holdings to over 2.88 million shares at a value of $15.62 million. Vanguard Capital Opportunity Fund now owns shares totaling to 1.99% of the shares outstanding.
Shares of Allogene Therapeutics Inc. (NASDAQ: ALLO) opened at $6.07, down -$0.02 from a prior closing price of $6.09. However, the script later moved the day high at 6.41, down -0.66%. The company’s stock has a 5-day price change of -1.31% and -9.97% over the past three months. ALLO shares are trading -3.82% year to date (YTD), with the 12-month market performance down to -19.12% lower. It has a 12-month low price of $4.42 and touched a high of $17.49 over the same period. ALLO has an average intraday trading volume of 2.07 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 0.96%, 11.02%, and -30.39% respectively.
Institutional ownership of Allogene Therapeutics Inc. (NASDAQ: ALLO) shares accounts for 76.20% of the company’s 144.56M shares outstanding. Mutual fund holders own 37.47%, while other institutional holders and individual stakeholders account for 53.32% and 27.47% respectively.
It has a market capitalization of $882.33M and a beta (3y monthly) value of 0.75. The earnings-per-share (ttm) stands at -$2.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.28% over the week and 7.34% over the month.
Analysts forecast that Allogene Therapeutics Inc. (ALLO) will achieve an EPS of $Alto Ingredients, Inc. for the current quarter, $2.10 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Allarity Therapeutics, Inc. while analysts give the company a high EPS estimate of $Allogene Therapeutics, Inc. Comparatively, EPS for the current quarter was $Allstate Corporation (The) a year ago. Earnings per share for the fiscal year are expected to decrease by -22.80%, and 1.30% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Allogene Therapeutics Inc. (ALLO) as a “Strong Buy” at a consensus score of 1.90. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 3 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
