Cowen lifts Allogene Therapeutics Inc. [ALLO] price estimate. Who else is bullish?


Allogene Therapeutics Inc. [NASDAQ: ALLO] loss -9.36% or -1.26 points to close at $12.20 with a heavy trading volume of 6015117 shares. The company report on January 10, 2022 that Cellectis’ Licensed Partner, Allogene Therapeutics, Announces Removal of FDA Clinical Hold on their Clinical Trials.

• Allogene reported that Chromosomal Abnormality Was Not the Result of TALEN® Gene Editing or Allogene’s Manufacturing Process.

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• Allogene to Initiate a Phase 2 Pivotal Clinical Trial of ALLO-501A in Relapsed/Refractory Large B-cell Lymphoma Mid-year 2022 Pending FDA Discussion.

It opened the trading session at $13.81, the shares rose to $13.87 and dropped to $11.54, the range by which the price of stock traded the whole day. The daily chart for ALLO points out that the company has recorded -47.00% loss over the past six months. However, it is still 5.43% lower than its most recent low trading price.

If we look at the average trading volume of 2.15M shares, ALLO reached to a volume of 6015117 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Allogene Therapeutics Inc. [ALLO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALLO shares is $32.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALLO stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for Allogene Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 20, 2021. While these analysts kept the previous recommendation, Stifel dropped their target price from $44 to $18. The new note on the price target was released on October 08, 2021, representing the official price target for Allogene Therapeutics Inc. stock. Previously, the target price had yet another drop from $71 to $20, while Goldman kept a Neutral rating on ALLO stock.

The Average True Range (ATR) for Allogene Therapeutics Inc. is set at 1.11, with the Price to Sales ratio for ALLO stock in the period of the last 12 months amounting to 45.78. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 3.36.

Trading performance analysis for ALLO stock

Allogene Therapeutics Inc. [ALLO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.21. With this latest performance, ALLO shares dropped by -32.41% in over the last four-week period, additionally sinking by -47.00% over the last 6 months – not to mention a drop of -56.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALLO stock in for the last two-week period is set at 26.62, with the RSI for the last a single of trading hit 18.99, and the three-weeks RSI is set at 31.54 for Allogene Therapeutics Inc. [ALLO]. The present Moving Average for the last 50 days of trading for this stock 17.14, while it was recorded at 13.50 for the last single week of trading, and 23.15 for the last 200 days.

Allogene Therapeutics Inc. [ALLO]: A deeper dive into fundamental analysis

Return on Total Capital for ALLO is now -28.48, given the latest momentum, and Return on Invested Capital for the company is -27.64. Return on Equity for this stock declined to -29.29, with Return on Assets sitting at -25.72. When it comes to the capital structure of this company, Allogene Therapeutics Inc. [ALLO] has a Total Debt to Total Equity ratio set at 4.98. Additionally, ALLO Total Debt to Total Capital is recorded at 4.75, with Total Debt to Total Assets ending up at 4.38. Long-Term Debt to Equity for the company is recorded at 4.71, with the Long-Term Debt to Total Capital now at 4.48.

Reflecting on the efficiency of the workforce at the company, Allogene Therapeutics Inc. [ALLO] managed to generate an average of -$944,230 per employee.Allogene Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.40 and a Current Ratio set at 9.40.

Allogene Therapeutics Inc. [ALLO]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALLO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Allogene Therapeutics Inc. go to 1.00%.

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An analysis of insider ownership at Allogene Therapeutics Inc. [ALLO]

There are presently around $1,059 million, or 64.10% of ALLO stock, in the hands of institutional investors. The top three institutional holders of ALLO stocks are: TPG GROUP HOLDINGS (SBS) ADVISORS, INC. with ownership of 18,716,306, which is approximately 0% of the company’s market cap and around 16.20% of the total institutional ownership; BLACKROCK INC., holding 7,271,192 shares of the stock with an approximate value of $88.71 million in ALLO stocks shares; and VANGUARD GROUP INC, currently with $81.69 million in ALLO stock with ownership of nearly 1.415% of the company’s market capitalization.

Positions in Allogene Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 73 institutional holders increased their position in Allogene Therapeutics Inc. [NASDAQ:ALLO] by around 6,069,311 shares. Additionally, 83 investors decreased positions by around 4,056,251 shares, while 44 investors held positions by with 76,636,805 shares. The mentioned changes placed institutional holdings at 86,762,367 shares, according to the latest SEC report filing. ALLO stock had 19 new institutional investments in for a total of 376,638 shares, while 29 institutional investors sold positions of 2,374,767 shares during the same period.