Allogene Therapeutics (ALLO) Reports Q1 Loss, Lags Revenue Estimates

Financial Performance - Allogene Therapeutics reported a quarterly loss of $0.38 per share, which aligns with the Zacks Consensus Estimate, an improvement from a loss of$0.68 per share a year ago [1] - The company posted revenues of $0.02 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 47.62$0.05 million in the same quarter last year [1] - Over the last four quarters, Allogene has surpassed consensus EPS estimates three times, but has not beaten consensus revenue estimates [1] Stock Performance - Allogene Therapeutics shares have declined approximately 14% since the beginning of the year, contrasting with the S&P 500's gain of 9.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.38 on revenues of$0.04 million, and for the current fiscal year, it is -$1.65 on revenues of$0.15 million [4] - The estimate revisions trend for Allogene Therapeutics is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Medical - Biomedical and Genetics industry, to which Allogene belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Precigen, Inc., is expected to report a quarterly loss of $0.09 per share, reflecting a year-over-year change of +10$1.54 million, down 16.8% from the previous year [5][6]