Allogene Therapeutics Inc Up 5.19% To $4.73 After Earnings Miss

Friday, March 15, 2024 - Allogene Therapeutics Inc (ALLO) reported downside earnings and upside revenues.

Wall Street earnings per share (EPS) projections for Allogene Therapeutics Inc were at a loss of $0.45 per share. The company missed those estimates with an EPS loss of $0.51 per share. The loss of $0.51 per share (which represents a -13% EPS surprise) led to the company's profits rising 24% compared to last year when the firm reported an EPS loss of $0.67 per share. The increase in Allogene Therapeutics Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were upbeat at $21 thousand. That represents a 19.23% decrease in revenues from the year-ago report and is 5.00% higher than consensus estimates set at $20 thousand.

The stock is up 5.19% to $4.73 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Allogene Therapeutics Inc a Bearish Sentiment Rank from InvestorsObserver.

Allogene Therapeutics Inc has performed a little above average during the past few months. Before the report, Allogene Therapeutics Inc received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm set a 52-week low on November 30, 2023 at $2.23 and set a 52-week high on May 15, 2023 at $6.89.

Allogene Therapeutics Inc is a United States-based clinical stage immuno-oncology company. It is mainly engaged in the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The company is involved in developing a pipeline of multiple allogeneic T cell product candidates utilizing validated gene editing and advanced proprietary cell manufacturing technologies. Its pipeline includes UCART19 which is developed for the treatment of relapsed or refractory acute lymphoblastic leukemia (ALL), as well as several preclinical allogeneic CAR T therapies.