Allogene Therapeutics Inc. (NASDAQ:ALLO) marked $12.12 per share on Monday, down from a previous closing price of $12.98. While Allogene Therapeutics Inc. has underperformed by -6.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALLO fell by -44.78%, with highs and lows ranging from $27.86 to $6.43, whereas the simple moving average jumped by 0.29% in the last 200 days.
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On July 15, 2022, Goldman Upgraded Allogene Therapeutics Inc. (NASDAQ: ALLO) to Buy. A report published by Robert W. Baird on June 03, 2022, Initiated its previous ‘Neutral’ rating for ALLO. B. Riley Securities also reiterated ALLO shares as ‘Buy’, quoting a target price of $21 on the company’s shares in a report dated February 28, 2022. Stifel October 08, 2021d its ‘Buy’ rating to ‘Hold’ for ALLO, as published in its report on October 08, 2021. Goldman’s report from October 08, 2021 suggests a price prediction of $20 for ALLO shares, giving the stock a ‘Neutral’ rating. Raymond James also rated the stock as ‘Outperform’.
Analysis of Allogene Therapeutics Inc. (ALLO)
Further, the quarter-over-quarter decrease in sales is -99.70%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Allogene Therapeutics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -32.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 12.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 2.09M can be a very valuable indicator of volatility for ALLO stock. On a monthly basis, the volatility of the stock is set at 7.97%, whereas on a weekly basis, it is put at 7.24%, with a loss of -11.01% over the past seven days. Furthermore, long-term investors anticipate a median target price of $27.50, showing growth from the present price of $12.12, which can serve as yet another indication of whether ALLO is worth investing in or should be passed over.
How Do You Analyze Allogene Therapeutics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 65.20% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ALLO shares?
The recent increase in stakes in ALLO appears to be a result of several institutional investors and hedge funds increasing their positions. SSgA Funds Management, Inc.’s position in ALLO has increased by 78.51% in the first quarter. The company now owns 7,877,648 shares of the stock, with a value of $89.81 million, following the purchase of 3,464,603 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in ALLO during the first quarter, upping its stake by 0.38%. During the last quarter, the company picked up 24,864 additional shares for a total stake of worth $75.42 million, bringing number of shares owned by the company to 6,615,625.
During the first quarter, BlackRock Fund Advisors added a 218,100 position in ALLO. PRIMECAP Management Co. purchased an additional 0.24 million shares in the last quarter, increasing its holdings by 5.24%, now holding 4.91 million shares worth $55.93 million. At the end of the first quarter, T. Rowe Price Associates, Inc. increased its ALLO holdings by 31.22% and now holds 4.27 million ALLO shares valued at $48.64 million with the added 1.02 million shares during the period. ALLO shares are owned by institutional investors to the tune of 65.20% at present.
