Foresite Capital Management VI LLC Invests $7.35 Million in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Foresite Capital Management VI LLC purchased a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,448,275 shares of the company's stock, valued at approximately $7,345,000. Allogene Therapeutics accounts for 3.3% of Foresite Capital Management VI LLC's investment portfolio, making the stock its 11th biggest holding. Foresite Capital Management VI LLC owned about 1.64% of Allogene Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in Allogene Therapeutics by 101.5% during the third quarter. Barclays PLC now owns 342,973 shares of the company's stock worth $959,000 after purchasing an additional 172,745 shares during the period. Geode Capital Management LLC grew its holdings in shares of Allogene Therapeutics by 14.4% in the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company's stock valued at $9,037,000 after purchasing an additional 407,070 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Allogene Therapeutics by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company's stock valued at $986,000 after purchasing an additional 9,635 shares in the last quarter. abrdn plc purchased a new stake in Allogene Therapeutics during the 4th quarter worth approximately $776,000. Finally, Vontobel Holding Ltd. increased its stake in Allogene Therapeutics by 788.4% during the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company's stock worth $416,000 after buying an additional 173,457 shares during the period. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ALLO shares. Citizens Jmp raised shares of Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a research note on Friday, March 14th. HC Wainwright cut their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $10.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.29.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO traded up $0.14 during trading hours on Wednesday, reaching $1.68. The stock had a trading volume of 6,051,390 shares, compared to its average volume of 3,215,717. Allogene Therapeutics, Inc. has a 1 year low of $1.23 and a 1 year high of $3.78. The firm's 50 day moving average is $1.66 and its 200-day moving average is $2.04. The stock has a market capitalization of $365.01 million, a price-to-earnings ratio of -1.08 and a beta of 0.99.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. Analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Insider Activity

In other news, insider Timothy L. Moore sold 14,746 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the transaction, the insider now owns 250,713 shares in the company, valued at approximately $428,719.23. This represents a 5.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David D. Chang sold 46,668 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares of the company's stock, valued at approximately $10,342,075.24. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,268 shares of company stock worth $159,584. 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).