Why Allogene Therapeutics Inc. (NASDAQ: ALLO) Stock Shouldn’t Be Sold In 2022

In the last trading session, 1.18 million Allogene Therapeutics Inc. (NASDAQ:ALLO) shares changed hands as the company’s beta touched 0.57. With the company’s per share price at $13.62 changed hands at $0.26 or 1.95% during last session, the market valuation stood at $2.10B. ALLO’s last price was a discount, traded about -104.55% off its 52-week high of $27.86. The share price had its 52-week low at $6.43, which suggests the last value was 52.79% up since then. When we look at Allogene Therapeutics Inc.’s average trading volume, we note the 10-day average is 1.68 million shares, with the 3-month average coming to 2.21 million.

Analysts gave the Allogene Therapeutics Inc. (ALLO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended ALLO as a Hold, 14 felt it is a Buy and 0 rated the stock as Underweight. Allogene Therapeutics Inc.’s EPS for the current quarter is expected to be -$0.61.

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Instantly ALLO was in green as seen at the end of in last trading. With action 8.96%, the performance over the past five days has been green. The jump to weekly highs of 14.48 on Monday, 07/25/22 added 1.95% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.71%, with the 5-day performance at 8.96% in the green. However, in the 30-day time frame, Allogene Therapeutics Inc. (NASDAQ:ALLO) is 11.73% up. Looking at the short shares, we see there were 17.76 million shares sold at short interest cover period of 10.82 days.

The consensus price target for the stock as assigned by Wall Street analysts is $27.06, meaning bulls need an upside of 49.67% from its current market value. According to analyst projections, ALLO’s forecast low is $11.00 with $55.00 as the target high. To hit the forecast high, the stock’s price needs a -303.82% plunge from its current level, while the stock would need to tank 19.24% for it to hit the projected low.

Allogene Therapeutics Inc. (ALLO) estimates and forecasts

Data shows that the Allogene Therapeutics Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 19.89% over the past 6 months, a -37.04% in annual growth rate that is considerably lower than the industry average of 0.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Allogene Therapeutics Inc. will fall -15.10%, while the growth in revenue is estimated to hit -17.50% for the next quarter. Year-over-year growth is forecast to reach -99.70% down from the last financial year.

The company’s revenue for the corresponding quarters a year ago was $44k and $10k respectively.

The 2022 estimates are for Allogene Therapeutics Inc. earnings to increase by 9.00%, but the outlook for the next 5-year period is at 1.00% per year.

ALLO Dividends

Allogene Therapeutics Inc. is expected to release its next quarterly earnings report between February 23 and February 28.

Allogene Therapeutics Inc. (NASDAQ:ALLO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 31.11% of Allogene Therapeutics Inc. shares while 63.16% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.69%. There are 63.16% institutions holding the Allogene Therapeutics Inc. stock share, with Tpg Group Holdings (sbs) Advisors, Inc. the top institutional holder. As of Sep 29, 2021, the company held 13.03% of the shares, roughly 18.72 million ALLO shares worth $481.01 million.

TPG GP A, LLC holds the second largest percentage of outstanding shares, with 13.03% or 18.72 million shares worth $279.25 million as of Dec 30, 2021.

Among Mutual Funds, the top two as of Jan 30, 2022 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Horizon Fund-Capital Opportunity Fund. With 3.42 million shares estimated at $39.18 million under it, the former controlled 2.38% of total outstanding shares. On the other hand, Vanguard Horizon Fund-Capital Opportunity Fund held about 1.85% of the shares, roughly 2.66 million shares worth around $39.71 million.

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