Allogene Therapeutics Inc (NASDAQ: ALLO) stock jumped 4.98% on Friday to $2.95 against a previous-day closing price of $2.81. With 2.83 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.69 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.1000 whereas the lowest price it dropped to was $2.8450. The 52-week range on ALLO shows that it touched its highest point at $11.10 and its lowest point at $2.31 during that stretch. It currently has a 1-year price target of $13.23. Beta for the stock currently stands at 0.79.
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 up-trending over the past week, with a rise of 18.00%, but this was down by -1.01% over a month. Three-month performance dropped to -24.36% while six-month performance fell -51.48%. The stock lost -69.56% in the past year, while it has lost -53.10% so far this year. A look at the trailing 12-month EPS for ALLO yields -2.24 with Next year EPS estimates of -1.81. For the next quarter, that number is -0.46. This implies an EPS growth rate of 13.33% for this year and 9.96% for next year.
Float and Shares Shorts:
At present, 144.44 million ALLO shares are outstanding with a float of 105.72 million shares on hand for trading. On Oct 30, 2023, short shares totaled 34.03 million, which was 20.22% higher than short shares on Sep 28, 2023. In addition to Dr. Arie S. Belldegrun F.A.C.S., M.D. as the firm’s Co-Founder & Executive Chairman, Dr. David D. Chang M.D., Ph.D. serves as its Co-Founder, President, CEO & Director.
Through their ownership of 98.58% of ALLO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.65% of ALLO, in contrast to 42.07% held by mutual funds. Shares owned by individuals account for 24.76%. As the largest shareholder in ALLO with 15.00% of the stake, Fidelity Management & Research Co holds 25,143,931 shares worth 25,143,931. A second-largest stockholder of ALLO, The Vanguard Group, Inc., holds 10,452,702 shares, controlling over 6.24% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in ALLO, holding 8,202,601 shares or 4.89% stake. With a 4.06% stake in ALLO, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 6,803,463 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 11.28 million. Vanguard Total Stock Market ETF holds 2.31% of the stake in ALLO, owning 3,876,439 shares worth 10.93 million.
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 $4.50, the average target price over the next 12 months is $13.23. Based on these targets, ALLO could surge 1086.44% to reach the target high and rise by 52.54% to reach the target low. Reaching the average price target will result in a growth of 348.47% from current levels.
Summary of Insider Activity:
Insiders traded ALLO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 4,413,926 while 111,800 shares were sold.