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Is Now The Right Time To Buy Allogene Therapeutics Inc. (NASDAQ: ALLO) Stock?

Allogene Therapeutics Inc. (NASDAQ:ALLO) traded at $6.86 at close of the session on Monday, 01/23/23, made an upward move of 4.73% on its previous day’s price.

Looking at the stock we see that its previous close was $6.55 and the beta (5Y monthly) reads 0.63 with the day’s price range being $6.4147 – $7.085. In terms of its 52-week price range, ALLO has a high of $17.49 and a low of $5.41. The company’s stock has gained about 8.89% over that past 30 days.

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Allogene Therapeutics Inc. has a market cap of $962.05 million and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.64, with the EPS growth for the year raised at -$2.45 for 2022 and -$2.85 for next year. These figures represent -29.60% and -16.30% growth in EPS for the two years respectively.

According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $160k, or -99.60% down from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ALLO stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 19 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 4 have rated the Allogene Therapeutics Inc. (ALLO) stock as a Hold, while 13 rate it as a Buy. 1 analyst(s) rate it as overweight while 1 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 10.34% off its SMA20 and -13.68% from its 50-day simple moving average. The RSI (14) is pointing at 49.90 while the volatility over the past week is 7.72% and jumps to 7.77% over the past one month. The beta value is 0.71, while the average true range (ATR) is currently pointing at 0.52. The average price target for the stock over the next 12 months is $22.56, with the estimates having a low of $6.00 and a high of $55.00. These price ends are 12.54% and -701.75% off the current price level respectively, although investors could be excited at the prospect of a -176.97% if the ALLO share price touches on the median price of $19.00.

Let’s briefly compare Allogene Therapeutics Inc. (ALLO) stock to its peers. We find that current price change of 4.73% and -40.76% over the past 12 months for ALLO competes that of Johnson & Johnson (JNJ), which has seen its stock price fall -0.25% in the last trading session and was 1.85% over the last one year. Another of its peers AbbVie Inc. (ABBV) has dropped -0.70% previous session, and was 11.67% up over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.19% and 0.76%, respectively, at close of the trading.

Coming back to Allogene Therapeutics Inc. (NASDAQ:ALLO), we note that the average 3-month trading volume was 1.88 million, while that of the preceding 10-day period stands at 1.92 million. Current shares outstanding are 143.66 million.

The insiders hold 0.60% of the company’s shares while institutions hold 76.20%. The data shows that short shares as of Oct 13, 2022, stood at 30.05 million at a short ratio of 13.67. This represents a 20.90% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 22.22 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 9.06% up in year-to-date price movement.

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