The biotech sector witnessed a see-saw performance in 2024. Though the year started on a positive note, those gains were erased in the second half due to disappointing third-quarter results, guidance cuts, pipeline setbacks and the appointment of vaccine skeptic Robert F. Kennedy Jr. as the head of Health and Human Services.Despite these setbacks, the sector continued to attract investors’ attention due to demand for innovative medicines, especially in areas with great commercial potential, like obesity, im ...

Investors might want to bet on Allogene Therapeutics (ALLO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a cha ...

The year 2024 has been a mixed ride for the biotech industry. It started on a positive note, attracting investors’ attention in areas with great commercial potential, like obesity, immunology and gene therapy.However, their interest started to wane in the second half of the year amid lower-than-expected third-quarter results, guidance cuts and pipeline setbacks. While Wall Street viewed Trump’s victory as an accelerant for M&A activity in the sector, the President-elect’s decision to nominate vaccine skepti ...

SOUTH SAN FRANCISCO, Calif., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (NASDAQ:ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) products for cancer and autoimmune disease, today announced that David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene, will present at the 43rd Annual J.P. Morgan Healthcare Conference at the Westin St. Francis in San Francisco. 43rd Annual J.P. Morgan Healthcare Conferen ...

SOUTH SAN FRANCISCO, Calif., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) products for cancer and autoimmune disease, today acknowledged the passing of founding board member, David Bonderman. David died at the age of 82, surrounded by his family. “We are deeply saddened by the passing of our founding board member and dear friend,” said Arie Belldegrun, M.D., Executive Chairman ...

Shares of Allogene Therapeutics (ALLO) have lost nearly 23% year to date, underperforming the industry’s 7.0% decline. The stock has also underperformed the sector and the S&P 500 during the same period, as shown in the chart below. ALLO’s shares are trading below the 50 and 200-day moving averages.ALLO Stock Underperforms Industry, Sector & S&P 500 Image Source: Zacks Investment ResearchThe decline in stock price can be attributed to the strategic changes in Allogene’s pipeline, announced at the start of t ...

Allogene Therapeutics (ALLO) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing ea ...

SOUTH SAN FRANCISCO, Calif., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Allogene Therapeutics, Inc. (Nasdaq: ALLO), a clinical-stage biotechnology company pioneering the development of allogeneic CAR T (AlloCAR T™) products for cancer and autoimmune disease, today announced that it will participate in two upcoming investor conferences in December. The Company is also announcing that the presentation time for the upcoming Jefferies London Healthcare conference on November 20, 2024 has changed. TIME UPDATE: Jefferies ...

Allogene Therapeutics (ALLO) incurred an adjusted loss (excluding impairment of long-lived asset) of 27 cents per share in third-quarter 2024, narrower than the Zacks Consensus Estimate of a loss of 34 cents.Inclusive of impairment charges, the company posted a loss of 32 cents per share in the quarter. In the year-ago period, the company reported a loss of 37 cents. There was no impairment charge in the year-ago period.Allogene did not generate revenues during the reported quarter. The Zacks Consensus Esti ...

Allogene Therapeutics, Inc. (NASDAQ:ALLO) Q3 2024 Results Conference Call November 7, 2024 5:00 PM ET Company Participants Christine Cassiano - Chief Corporate Affair and Brand Strategy Officer David Chang - President and Chief Executive Officer Zachary Roberts - EVP of Research and Development and Chief Medical Officer Geoff Parker - Chief Financial Officer Conference Call Participants Michael Yee - Jefferies Jack Allen - Baird Biren Amin - Piper Sandler John Newman - Canaccord Genuity Luca Issi - RBC Capi ...