701,901 Shares in Allogene Therapeutics, Inc. $ALLO Bought by Man Group plc

Man Group plc purchased a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the second quarter, HoldingsChannel.com reports. The fund purchased 701,901 shares of the company’s stock, valued at approximately $1,460,000.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Allogene Therapeutics during the 2nd quarter valued at about $62,706,000. Primecap Management Co. CA purchased a new position in shares of Allogene Therapeutics during the second quarter valued at about $27,297,000. Goldman Sachs Group Inc. increased its holdings in shares of Allogene Therapeutics by 177.9% in the first 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. Walleye Capital LLC bought a new stake in shares of Allogene Therapeutics in the second quarter worth about $6,797,000. Finally, Kalehua Capital Management LLC purchased a new stake in shares of Allogene Therapeutics in the fourth quarter worth about $3,488,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALLO. Citizens Jmp reissued a “market outperform” rating and set a $6.00 price target on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings raised Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.30.

Insider Activity at Allogene Therapeutics

In related news, SVP Earl Martin Douglas sold 29,697 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $2.12, for a total value of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares of the company’s stock, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company’s stock.

Allogene Therapeutics Stock Down 0.3%

Allogene Therapeutics stock opened at $1.98 on Thursday. Allogene Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $4.46. The firm’s fifty day moving average is $1.99 and its 200 day moving average is $2.16. The company has a market cap of $684.07 million, a price-to-earnings ratio of -2.96 and a beta of 0.47.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $0.00 million. On average, equities research analysts anticipate that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Allogene Therapeutics Company Profile

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.