Allogene Therapeutics Inc. (NASDAQ: ALLO) stock fell -1.52% on Friday to $3.89 against a previous-day closing price of $3.95. With 3.69 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.55 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.9900 whereas the lowest price it dropped to was $3.8300. The 52-week range on ALLO shows that it touched its highest point at $14.38 and its lowest point at $3.70 during that stretch. It currently has a 1-year price target of $16.93. Beta for the stock currently stands at 0.77.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALLO was down-trending over the past week, with a drop of -4.66%, but this was down by -2.75% over a month. Three-month performance dropped to -21.73% while six-month performance fell -29.40%. The stock lost -72.95% in the past year, while it has lost -38.16% so far this year. A look at the trailing 12-month EPS for ALLO yields -2.45 with Next year EPS estimates of -2.20. For the next quarter, that number is -0.52. This implies an EPS growth rate of -22.80% for this year and 1.80% for next year.
Float and Shares Shorts:
At present, 146.80 million ALLO shares are outstanding with a float of 105.46 million shares on hand for trading. On Aug 30, 2023, short shares totaled 32.11 million, which was 19.15% higher than short shares on Jul 30, 2023. In addition to Dr. Arie S. Belldegrun F.A.C.S., FACS, M.D. as the firm’s Co-Founder & Exec. Chairman, Dr. David D. Chang M.D., Ph.D. serves as its Co-Founder, Pres, CEO & Director.
Institutional Ownership:
Other institutions hold 46.17% of ALLO, in contrast to 41.23% held by mutual funds. Shares owned by individuals account for 27.32%. As the largest shareholder in ALLO with 14.87% of the stake, Fidelity Management & Research Co holds 24,917,955 shares worth 24,917,955. A second-largest stockholder of ALLO, SSgA Funds Management, Inc., holds 8,478,761 shares, controlling over 5.06% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ALLO, holding 7,365,901 shares or 4.39% stake. With a 3.93% stake in ALLO, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 6,592,840 shares are owned by the mutual fund manager. The Fidelity Select Port. – Health Ca, which owns about 2.39% of ALLO stock, is the second-largest Mutual Fund holder. It holds 4,000,000 shares valued at 15.56 million. Vanguard Capital Opportunity Fund holds 2.02% of the stake in ALLO, owning 3,377,879 shares worth 13.14 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ALLO reported revenue of $86.00k and operating income of -$76.59M. The EBITDA in the recently reported quarter was -$72.92M and diluted EPS was -$0.52.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALLO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALLO analysts setting a high price target of $35.00 and a low target of $5.00, the average target price over the next 12 months is $16.13. Based on these targets, ALLO could surge 799.74% to reach the target high and rise by 28.53% to reach the target low. Reaching the average price target will result in a growth of 314.65% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ALLO stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 447,235 shares were bought while 10,000 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 4,433,046 while 129,232 shares were sold.
