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Things To Consider Before Buying Allogene Therapeutics Inc. (NASDAQ: ALLO)

Allogene Therapeutics Inc. (NASDAQ:ALLO) shares, rose in value on Wednesday, 08/03/22, with the stock price up by 8.87% to the previous day’s close as strong demand from buyers drove the stock to $13.62.

Actively observing the price movement in the last trading, the stock closed the session at $12.51, falling within a range of $12.77 and $13.97. The value of beta (5-year monthly) was 0.49. Referring to stock’s 52-week performance, its high was $27.86, and the low was $6.43. On the whole, ALLO has fluctuated by 15.82% over the past month.

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With the market capitalization of Allogene Therapeutics Inc. currently standing at about $2.11 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.61, which is expected to increase to -$0.62 for fiscal year -$2.58 and then to about -$2.87 by fiscal year 2023. Data indicates that the EPS growth is expected to be -36.50% in 2023, while the next year’s EPS growth is forecast to be -11.20%.

According to the average forecast, sales growth in current quarter could jump down -77.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $120k, representing a decrease of -99.70% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ALLO’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ALLO currently trading nearly 7.00% and 24.88% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 58.60, while the 7-day volatility ratio is showing 8.33% which for the 30-day chart, stands at 8.01%. Furthermore, Allogene Therapeutics Inc. (ALLO)’s beta value is 0.55, and its average true range (ATR) is 0.97.

A comparison of Allogene Therapeutics Inc. (ALLO) with its peers suggests the former has fared considerably weaker in the market. ALLO showed an intraday change of 8.87% in last session, and over the past year, it shrunk by -37.89%%. In comparison, Johnson & Johnson (JNJ) has moved higher at 0.97% on the day and was up 0.11% over the past 12 months. On the other hand, the price of Pfizer Inc. (PFE) has risen 0.34% on the day. The stock, however, is off 9.15% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 1.56%. Meanwhile, the Dow Jones Industrial Improved by 1.29%.

Data on historical trading for Allogene Therapeutics Inc. (NASDAQ:ALLO) indicates that the trading volumes over the past 10 days have averaged 1.2 million and over the past 3 months, they’ve averaged 2.08 million. According to company’s latest data on outstanding shares, there are 141.36 million shares outstanding.

Nearly 3.50% of Allogene Therapeutics Inc.’s shares belong to company insiders and institutional investors own 65.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 22.43 million shares as on Jul 14, 2022, resulting in a short ratio of 8.53. According to the data, the short interest in Allogene Therapeutics Inc. (ALLO) stood at 15.62% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 22.06 million. The stock has fallen by -8.71% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ALLO stock heading into the next quarter.

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