Ieq Capital LLC Takes Position in Allogene Therapeutics, Inc. $ALLO

Ieq Capital LLC acquired a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 580,371 shares of the company’s stock, valued at approximately $1,207,000.

Other hedge funds have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. bought a new stake in Allogene Therapeutics during the second quarter valued at $1,504,000. Walleye Capital LLC bought a new position in shares of Allogene Therapeutics in the 2nd quarter worth about $6,797,000. Candriam S.C.A. raised its position in shares of Allogene Therapeutics by 30.0% in the 1st quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock worth $7,313,000 after acquiring an additional 691,674 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Allogene Therapeutics by 25.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,201,655 shares of the company’s stock valued at $2,927,000 after purchasing an additional 243,839 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Allogene Therapeutics by 235.7% in the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company’s stock valued at $841,000 after purchasing an additional 431,119 shares during the period. Institutional investors own 83.63% of the company’s stock.

Insider Activity

In related news, SVP Earl Martin Douglas sold 29,697 shares of Allogene Therapeutics stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ALLO shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $6.00 target price on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings lowered Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Stock Performance

ALLO stock opened at $2.04 on Thursday. The stock’s 50 day simple moving average is $1.99 and its 200 day simple moving average is $2.14. The company has a market cap of $704.80 million, a P/E ratio of -3.04 and a beta of 0.48. Allogene Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. Equities analysts predict that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Allogene Therapeutics 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.