Primecap Management Co. CA Has $8.78 Million Stock Position in Allogene Therapeutics, Inc. $ALLO

Primecap Management Co. CA boosted its stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 23.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,079,308 shares of the company’s stock after acquiring an additional 1,360,168 shares during the quarter. Primecap Management Co. CA owned approximately 3.15% of Allogene Therapeutics worth $8,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Allogene Therapeutics by 9.2% during the third quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock worth $11,186,000 after purchasing an additional 761,642 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after purchasing an additional 3,747,397 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Allogene Therapeutics by 13.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company’s stock worth $4,289,000 after buying an additional 435,389 shares in the last quarter. Patient Square Capital LP boosted its position in Allogene Therapeutics by 13.1% in the 3rd quarter. Patient Square Capital LP now owns 2,981,396 shares of the company’s stock valued at $3,697,000 after buying an additional 346,396 shares during the last quarter. Finally, Aberdeen Group plc boosted its position in Allogene Therapeutics by 82.4% in the 3rd quarter. Aberdeen Group plc now owns 1,582,265 shares of the company’s stock valued at $1,962,000 after buying an additional 715,015 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analysts Set New Price Targets

ALLO has been the subject of a number of recent research reports. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. UBS Group started coverage on Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price objective for the company. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, January 9th. Finally, Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $8.40.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $2.78 on Friday. The stock has a market cap of $624.75 million, a PE ratio of -2.84 and a beta of 0.60. The stock has a 50-day moving average of $1.71 and a 200-day moving average of $1.41. Allogene Therapeutics, Inc. has a one year low of $0.86 and a one year high of $2.80.

Insider Activity

In related news, SVP Earl Martin Douglas sold 22,900 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $40,304.00. Following the completion of the sale, the senior vice president owned 564,948 shares in the company, valued at $994,308.48. This represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Zachary Roberts sold 35,700 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.77, for a total value of $63,189.00. Following the sale, the executive vice president directly owned 581,166 shares in the company, valued at $1,028,663.82. The trade was a 5.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 215,855 shares of company stock worth $378,426 over the last three months. Company insiders own 13.20% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.