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Allogene Therapeutics Inc . (NASDAQ:ALLO) stock has tumbled to a 52-week low, touching down at $1.29, with a market capitalization now at $292 million. This latest price level reflects a significant drop for the biotechnology company, which has experienced a precipitous 1-year change, plummeting by -67.81%. According to InvestingPro data, the stock's decline has been particularly sharp in recent months, with a -48.48% return over the past six months. Investors have watched Allogene's stock struggle over the past year, culminating in this new low point, as the company grapples with challenges that have severely impacted its market valuation. While the company maintains a strong current ratio of 8.54 and holds more cash than debt, InvestingPro analysis indicates rapid cash burn and projects continued unprofitability this year. The 52-week low serves as a stark indicator of the hurdles Allogene faces as it seeks to regain its footing in the competitive biotech landscape. Discover 12 additional key insights about ALLO with an InvestingPro subscription, including detailed analyst forecasts and comprehensive financial health metrics.
In other recent news, Allogene Therapeutics reported a better-than-expected earnings per share (EPS) of -$0.28 for the fourth quarter of 2024, surpassing analysts' forecast of -$0.32. Although the exact revenue figures were not disclosed, the company had projected revenue of $11.87 billion. Allogene's strong cash position of $373 million is expected to support its operations into 2026. The U.S. Food and Drug Administration (FDA) granted Fast Track Designations to Allogene's investigational product ALLO-329 for certain severe autoimmune diseases, aiming to expedite its development and review process. Analyst Debjit Chattopadhyay from H.C. Wainwright adjusted Allogene's price target to $8, down from $9, while maintaining a Buy rating. Similarly, Citi analyst Samantha Semenkow reaffirmed a Buy rating with an $8 price target, expressing confidence in the company's ALPHA3 clinical study. Meanwhile, Citizens JMP analyst Reni Benjamin upgraded Allogene's stock rating to Market Outperform with a new price target of $5, driven by promising clinical trial results for ALPHA3. These developments highlight significant milestones and analyst confidence in Allogene's ongoing and future clinical programs.
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