Pennant Investors LP Buys New Shares in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Pennant Investors LP purchased a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 128,400 shares of the company’s stock, valued at approximately $412,000. Allogene Therapeutics accounts for 0.1% of Pennant Investors LP’s holdings, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALLO. Victory Capital Management Inc. acquired a new position in shares of Allogene Therapeutics during the third quarter worth approximately $37,000. Barclays PLC lifted its stake in shares of Allogene Therapeutics by 17.6% in the third quarter. Barclays PLC now owns 786,793 shares of the company’s stock valued at $2,495,000 after buying an additional 117,596 shares in the last quarter. Swiss National Bank grew its holdings in shares of Allogene Therapeutics by 3.0% during the third quarter. Swiss National Bank now owns 192,400 shares of the company’s stock valued at $610,000 after buying an additional 5,600 shares during the last quarter. Citigroup Inc. increased its position in shares of Allogene Therapeutics by 20.4% during the third quarter. Citigroup Inc. now owns 338,756 shares of the company’s stock worth $1,074,000 after acquiring an additional 57,392 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Allogene Therapeutics by 2.2% during the third quarter. Rafferty Asset Management LLC now owns 904,403 shares of the company’s stock worth $2,867,000 after acquiring an additional 19,832 shares in the last quarter. 83.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALLO has been the subject of a number of analyst reports. Piper Sandler assumed coverage on Allogene Therapeutics in a research note on Friday, May 31st. They set an “overweight” rating and a $11.00 price target for the company. Stifel Nicolaus increased their price target on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. HC Wainwright cut their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Truist Financial reiterated a “buy” rating and issued a $17.00 target price on shares of Allogene Therapeutics in a report on Wednesday, May 15th. Finally, Oppenheimer cut their price target on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.95.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock traded up $0.04 during midday trading on Tuesday, reaching $2.48. 727,895 shares of the stock were exchanged, compared to its average volume of 2,588,725. The company’s fifty day moving average is $3.09 and its 200-day moving average is $3.51. Allogene Therapeutics, Inc. has a 52 week low of $2.23 and a 52 week high of $6.05.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.01 million. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. The firm’s revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.68) earnings per share. As a group, analysts expect that Allogene Therapeutics, Inc. will post -1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Arie Belldegrun purchased 1,724,137 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average price of $2.90 per share, with a total value of $4,999,997.30. Following the purchase, the director now directly owns 1,724,137 shares in the company, valued at $4,999,997.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Franz B. Humer sold 11,200 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the transaction, the director now directly owns 255,253 shares in the company, valued at approximately $597,292.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arie Belldegrun bought 1,724,137 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $2.90 per share, with a total value of $4,999,997.30. Following the transaction, the director now directly owns 1,724,137 shares in the company, valued at $4,999,997.30. The disclosure for this purchase can be found here. Corporate insiders own 24.30% of the company’s stock.

About Allogene Therapeutics

Allogene Therapeutics, Inc, a clinical stage immuno-oncology company, develops and commercializes genetically engineered allogeneic T cell therapies for the treatment of cancer. It develops, manufactures, and commercializes UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate for the treatment of pediatric and adult patients with R/R CD19 positive B-cell acute lymphoblastic leukemia (ALL).