Allogene Therapeutics, Inc. $ALLO Stock Holdings Increased by Candriam S.C.A.

Candriam S.C.A. lifted its stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 25.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,422,820 shares of the company’s stock after purchasing an additional 1,086,524 shares during the quarter. Candriam S.C.A.’s holdings in Allogene Therapeutics were worth $8,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC purchased a new position in Allogene Therapeutics during the second quarter valued at approximately $25,000. Bull Harbor Capital LLC bought a new stake in shares of Allogene Therapeutics in the first quarter worth about $31,000. GTS Securities LLC purchased a new stake in shares of Allogene Therapeutics in the second quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Allogene Therapeutics in the third quarter worth about $28,000. Finally, Essential Partners LLC lifted its position in shares of Allogene Therapeutics by 525.9% in the first quarter. Essential Partners LLC now owns 19,410 shares of the company’s stock worth $47,000 after buying an additional 16,309 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALLO has been the subject of several research analyst reports. Weiss Ratings upgraded Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 21st. Wall Street Zen cut Allogene Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Citizens Jmp reiterated a “market outperform” rating and set a $6.00 target price on shares of Allogene Therapeutics in a research report on Monday, August 17th. Finally, William Blair raised shares of Allogene Therapeutics to a “strong-buy” rating in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Trading Up 1.9%

Shares of NASDAQ:ALLO opened at $1.06 on Tuesday. The company has a market cap of $366.22 million, a price-to-earnings ratio of -1.68 and a beta of 0.76. Allogene Therapeutics, Inc. has a 12 month low of $0.98 and a 12 month high of $4.46. The company has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.96.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, hitting the consensus estimate of ($0.15). As a group, equities analysts forecast that Allogene Therapeutics, Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Geoffrey M. Parker sold 36,342 shares of the stock in a transaction on Wednesday, October 21st. The stock was sold at an average price of $1.34, for a total transaction of $48,698.28. Following the sale, the chief financial officer owned 1,045,877 shares in the company, valued at approximately $1,401,475.18. This represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Earl Douglas sold 29,697 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was 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 represents a 5.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 insiders.

About Allogene Therapeutics

Allogene Therapeutics, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” CAR T cell therapies for cancer. Unlike conventional autologous CAR T treatments, which are manufactured from an individual patient’s own cells, Allogene’s approach uses healthy donor cells that can potentially be produced in advance and administered more quickly.

The company’s investigational pipeline has included cemacabtagene ansegedleucel (cema-cel, formerly ALLO-501A) for certain patients with large B-cell lymphoma, as well as other allogeneic CAR T candidates being studied in blood cancers such as multiple myeloma and in solid tumors, including renal cell carcinoma.