AustralianSuper Pty Ltd Takes Position in Allogene Therapeutics, Inc. $ALLO

AustralianSuper Pty Ltd bought a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 382,141 shares of the company’s stock, valued at approximately $474,000. AustralianSuper Pty Ltd owned 0.17% of Allogene Therapeutics as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Allogene Therapeutics by 81.6% in the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Allogene Therapeutics by 142.0% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 31,211 shares of the company’s stock valued at $35,000 after purchasing an additional 18,314 shares during the period. Engineers Gate Manager LP purchased a new stake in Allogene Therapeutics during the second quarter worth $37,000. R Squared Ltd purchased a new stake in Allogene Therapeutics during the second quarter worth $37,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Allogene Therapeutics during the second quarter valued at $41,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALLO. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allogene Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research report on Friday, October 10th. Finally, UBS Group initiated coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $8.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Allogene Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $8.40.

Allogene Therapeutics Trading Up 15.7%

ALLO stock opened at $1.84 on Friday. Allogene Therapeutics, Inc. has a 12-month low of $0.86 and a 12-month high of $3.78. The business’s 50-day moving average is $1.49 and its 200 day moving average is $1.31. The stock has a market cap of $413.50 million, a price-to-earnings ratio of -1.88 and a beta of 0.51.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.04. As a group, equities analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Zachary Roberts sold 26,269 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $1.56, for a total transaction of $40,979.64. Following the completion of the sale, the executive vice president owned 616,866 shares of the company’s stock, valued at $962,310.96. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.20% of the company’s stock.

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.