As of Wednesday, Allogene Therapeutics Inc.’s (NASDAQ:ALLO) stock closed at $4.94, up from $4.86 the previous day. While Allogene Therapeutics Inc. has overperformed by 1.65%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ALLO fell by -50.35%, with highs and lows ranging from $17.49 to $4.72, whereas the simple moving average fell by -49.73% in the last 200 days.
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On March 21, 2023, Bernstein started tracking Allogene Therapeutics Inc. (NASDAQ: ALLO) recommending Mkt Perform. A report published by JP Morgan on January 24, 2023, Upgraded its rating to ‘Overweight’ for ALLO. Robert W. Baird also Upgraded ALLO shares as ‘Outperform’, setting a target price of $12 on the company’s shares in a report dated January 06, 2023. BofA Securities December 12, 2022d the rating to Underperform on December 12, 2022, and set its price target from $24 to $9. Raymond James August 10, 2022d its ‘Outperform’ rating to ‘Mkt Perform’ for ALLO, as published in its report on August 10, 2022. Goldman’s report from July 15, 2022 suggests a price prediction of $32 for ALLO shares, giving the stock a ‘Buy’ rating. Robert W. Baird also rated the stock as ‘Neutral’.
Analysis of Allogene Therapeutics Inc. (ALLO)
Further, the quarter-over-quarter decrease in sales is -7.80%, showing a negative trend in the upcoming months.
One of the most important indicators of Allogene Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -43.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.70, 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.
For any stock, average volume can also provide valuable insight into volatility, and ALLO is recording 1.86M average volume. On a monthly basis, the volatility of the stock is set at 5.49%, whereas on a weekly basis, it is put at 5.94%, with a loss of -3.33% over the past seven days. Furthermore, long-term investors anticipate a median target price of $18.06, showing growth from the present price of $4.94, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of 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 0.60%. 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 76.20% 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 37.22% in the first quarter. The company now owns 9,166,408 shares of the stock, with a value of $58.21 million, following the purchase of 2,486,111 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 1.46%. During the last quarter, the company picked up 102,481 additional shares for a total stake of worth $45.28 million, bringing number of shares owned by the company to 7,130,335.
During the first quarter, BlackRock Fund Advisors added a 741,226 position in ALLO. T. Rowe Price Associates, Inc. purchased an additional 34481.0 shares in the last quarter, increasing its holdings by 0.58%, now holding 5.94 million shares worth $37.73 million. ALLO shares are owned by institutional investors to the tune of 76.20% at present.
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