Market Analysts see Allogene Therapeutics Inc. [ALLO] falling to $11. Time to buy?

Allogene Therapeutics Inc. [NASDAQ: ALLO] loss -5.05% or -0.32 points to close at $6.02 with a heavy trading volume of 2838325 shares. The company report on March 2, 2023 that Allogene Therapeutics Announces Participation in Two Upcoming Investor Conferences.

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It opened the trading session at $6.29, the shares rose to $6.46 and dropped to $5.944, the range by which the price of stock traded the whole day. The daily chart for ALLO points out that the company has recorded -55.80% loss over the past six months. However, it is still -11.28% lower than its most recent low trading price.

If we look at the average trading volume of 1.85M shares, ALLO reached to a volume of 2838325 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 $22.69 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.

JP Morgan have made an estimate for Allogene Therapeutics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 24, 2023. The new note on the price target was released on January 06, 2023, representing the official price target for Allogene Therapeutics Inc. stock. Previously, the target price had yet another drop from $24 to $9, while BofA Securities kept a Underperform rating on ALLO stock.

The Average True Range (ATR) for Allogene Therapeutics Inc. is set at 0.46, with the Price to Sales ratio for ALLO stock in the period of the last 12 months amounting to 4551.12. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 3.65.

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 -7.24. With this latest performance, ALLO shares dropped by -22.02% in over the last four-week period, additionally sinking by -55.80% over the last 6 months – not to mention a drop of -29.92% 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 34.26, with the RSI for the last a single of trading hit 27.92, and the three-weeks RSI is set at 37.78 for Allogene Therapeutics Inc. [ALLO]. The present Moving Average for the last 50 days of trading for this stock 6.76, while it was recorded at 6.25 for the last single week of trading, and 10.17 for the last 200 days.

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

Allogene Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.60 and a Current Ratio set at 11.60.

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%.

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

There are presently around $671 million, or 76.20% of ALLO stock, in the hands of institutional investors. The top three institutional holders of ALLO stocks are: TPG GP A, LLC with ownership of 18,716,306, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; STATE STREET CORP, holding 9,166,408 shares of the stock with an approximate value of $55.18 million in ALLO stocks shares; and BLACKROCK INC., currently with $53.5 million in ALLO stock with ownership of nearly 8.207% of the company’s market capitalization.

Positions in Allogene Therapeutics Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 91 institutional holders increased their position in Allogene Therapeutics Inc. [NASDAQ:ALLO] by around 14,261,072 shares. Additionally, 94 investors decreased positions by around 9,592,794 shares, while 27 investors held positions by with 87,618,318 shares. The mentioned changes placed institutional holdings at 111,472,184 shares, according to the latest SEC report filing. ALLO stock had 25 new institutional investments in for a total of 2,028,737 shares, while 38 institutional investors sold positions of 3,264,281 shares during the same period.


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