701,901 Shares in Allogene Therapeutics, Inc. $ALLO Acquired by Man Group plc

Key Points

• Man Group plc acquired 701,901 shares of Allogene Therapeutics in the second quarter, worth approximately $1.46 million and representing a 0.20% stake. Institutional investors collectively own 83.63% of the company.
• Allogene reported a quarterly loss of $0.13 per share, beating analysts’ estimate of a $0.17 loss, while revenue reached $4.64 million. The stock opened at $1.98, compared with a 52-week range of $1.04 to $4.46.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $8.30, despite the stock’s current price near $2.00.

Man Group plc bought a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 701,901 shares of the company's stock, valued at approximately $1,460,000. Man Group plc owned 0.20% of Allogene Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth $1,504,000. BlackRock Inc. purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter worth $62,706,000. Walleye Capital LLC purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter worth $6,797,000. Candriam S.C.A. raised its holdings in 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 purchasing an additional 691,674 shares during the period. Finally, Bank of America Corp DE raised its holdings in Allogene Therapeutics by 111.9% in the 1st quarter. Bank of America Corp DE now owns 2,134,473 shares of the company's stock worth $5,208,000 after purchasing an additional 1,127,145 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Performance

ALLO opened at $1.98 on Thursday. Allogene Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.46. The firm's fifty day moving average is $1.99 and its 200 day moving average is $2.16. The stock has a market cap of $684.07 million, a price-to-earnings ratio of -2.96 and a beta of 0.47.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to the consensus estimate of $0.00 million. On average, equities research analysts predict that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Allogene Therapeutics

In related news, SVP Earl Martin Douglas sold 29,697 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the sale, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citizens Jmp reissued a "market outperform" rating and set a $6.00 price target on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings raised Allogene Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.30.

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.

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