Allogene Therapeutics (NASDAQ:ALLO) Issues Earnings Results

Allogene Therapeutics (NASDAQ:ALLO) released its quarterly earnings results on Thursday. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15), FiscalAI reports.

Here are the key takeaways from Allogene Therapeutics’ conference call:

• Allogene said ALPHA3 showed encouraging rapid MRD clearance, an early favorable safety profile, and feasibility at community practices, including sites without prior CAR-T experience. Management reported stronger screening and enrollment activity, and remains on track to complete enrollment by the end of 2027.
• The planned mid-2027 ALPHA3 look at event-free survival is not guaranteed to produce an unblinded or positive result: management emphasized that the data safety monitoring board will decide whether to continue the trial, and that the interim analysis has only a small allocation of statistical alpha.
• For ALLO-329, management reported no high-grade toxicities or cases of IEC-HS to date and said expanded data would cover multiple dose levels and conditioning approaches. The company is evaluating whether the therapy can deliver activity with reduced or no chemotherapy-based lymphodepletion; the program remains early-stage.
• Allogene said scleroderma has become the most active enrollment pathway for ALLO-329, while the RESOLUTION trial remains open to lupus and myositis patients. CFO Geoff Parker is retiring, and the company said its CFO search is ongoing, with finance operations overseen by SVP Annie Yoshiyama in the interim.

Allogene Therapeutics Trading Down 5.0%

Shares of ALLO stock traded down $0.06 during mid-day trading on Friday, reaching $1.03. The stock had a trading volume of 7,706,766 shares, compared to its average volume of 7,808,715. Allogene Therapeutics has a 1-year low of $0.98 and a 1-year high of $4.46. The firm has a market cap of $357.58 million, a price-to-earnings ratio of -1.54 and a beta of 0.76. The business’s fifty day moving average is $1.54 and its 200-day moving average is $1.96.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. William Blair upgraded shares of Allogene Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Citizens Jmp reiterated a “market outperform” rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research note on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Insider Transactions at Allogene Therapeutics

In related news, SVP Earl Douglas sold 29,697 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $2.12, for a total value of $62,957.64. Following the sale, the senior vice president owned 488,267 shares in the company, valued at $1,035,126.04. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Geoffrey Parker sold 36,342 shares of the stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $1.34, for a total transaction of $48,698.28. Following the completion of the transaction, the chief financial officer owned 1,045,877 shares in the company, valued at approximately $1,401,475.18. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company’s investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.