Allogene Therapeutics Inc. (ALLO) Price Target: Is It Set To Rise Or Fall In Price?

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Allogene Therapeutics Inc. (NASDAQ:ALLO) finished Wednesday with an addition of $0.16 to close at $5.78, an upside of 2.85 percent. An average of 1,576,580 shares of common stock have been traded in the last five days. There was a fall of -$0.52 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 2,018,790 shares traded, while the 50-day average volume stands at 1,818,876.

ALLO stock has decreased by -43.66% in the last month. The company shares reached their 1-month lowest point of $5.55 on 12/27/22. With the stock rallying to its 52-week high on 08/12/22, shares of the company touched a low of $5.55 and a high of $17.49 in 52 weeks. It has reached a new high 6 times so far this year and lost -61.26% or -$9.14 in price. In spite of this, the price is down -66.95% from the 52-week high.


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Insider Transactions

ALLO stock investors should be aware that Allogene Therapeutics Inc. (ALLO) stock had its last reported insider trading activity 14 days ago on Dec 15. In this transaction, the insider spent $42,186. Director, WITTE OWEN N., disposed of 5,000 shares at a price of $17.25 on Aug 12. The insider now owns more than $86,250 worth of shares. Prior to that, Director WITTE OWEN N. went on to Sale 5,000 shares at $17.25 each on Aug 12. An amount of $86,250 was transacted.

Valuation Metrics

Allogene Therapeutics Inc. (ALLO) stock’s beta is 0.72. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4230.67, the price-to-book (PB) ratio at 1.12.

Financial Health

The quick ratio of Allogene Therapeutics Inc. for the three months ended June 29 was 11.60, and the current ratio was 11.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $294.28 million compared to revenue of $38.49 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Allogene Therapeutics Inc.’s return on assets was -32.60%.

Earnings Surprise

For the three-month period that ended June 29, Allogene Therapeutics Inc. had $477.87 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$83.15 million in the quarter, while revenues of -$74.79 million were grew 5.97%. The analyst consensus anticipated Allogene Therapeutics Inc.’s latest quarter earnings to come in at -$0.61 per share, but it turned out to be -$0.52, a 14.80% surprise. For the quarter, EBITDA amounted to -$78.13 million. Shareholders own equity worth $144.21 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Allogene Therapeutics Inc. (ALLO) price momentum. RSI 9-day as of the close on 28 December was 16.97%, suggesting the stock is oversold, with historical volatility in this time frame at 43.78%.

As of today, ALLO’s price is $5.93 -8.25% or -$0.52 from its 5-day moving average. ALLO is currently trading -37.92% lower than its 20-day SMA and -62.61% lower than its 100-day SMA. However, the stock’s current price level is -43.72% below the SMA50 and -24.44% below the SMA200.

The stochastic %K and %D were 4.02% and 3.72%, respectively, and the average true range (ATR) was 0.48. With the 14-day stochastic at 6.36% and the average true range at 0.54, the RSI (14) stands at 22.11%. The stock has reached -0.49 on the 9-day MACD Oscillator while the 14-day reading was at -1.21.

Analyst Ratings

BofA Securities downgraded Allogene Therapeutics Inc. (NASDAQ: ALLO) to a an Underperform rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Allogene Therapeutics Inc. (ALLO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ALLO, while 5 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 12 others rate it as a “buy”.

What is ALLO’s price target for the next 12 months?

Analysts predict a range of price targets between $9.00 and $55.00, with a median target of $23.00. Taking a look at these predictions, the average price target given by analysts for Allogene Therapeutics Inc. (ALLO) stock is $23.87.

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