Allogene Therapeutics, Inc. $ALLO Stock: Candriam S.C.A. Increases Stake

Key Points

• Candriam S.C.A. increased its Allogene Therapeutics stake by 25.1% in the third quarter, adding about 1.09 million shares to reach 5.42 million shares, valued at approximately $8.7 million.
• Institutional investors own 83.63% of the company’s stock; other investors, including Frazier Life Sciences, also reported significant purchases.
• Allogene shares opened at $1.06, near their 12-month low. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $8.30, while the company reported a quarterly loss of $0.15 per share.

Candriam S.C.A. lifted its holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,422,820 shares of the company's stock after buying an additional 1,086,524 shares during the period. Candriam S.C.A. owned approximately 1.57% of Allogene Therapeutics worth $8,708,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Allogene Therapeutics in the second quarter worth approximately $62,706,000. Frazier Life Sciences Management L.P. grew its holdings in shares of Allogene Therapeutics by 491.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 22,446,668 shares of the company's stock worth $46,689,000 after purchasing an additional 18,650,000 shares during the last quarter. Primecap Management Co. CA purchased a new position in shares of Allogene Therapeutics in the second quarter valued at about $27,297,000. Walleye Capital LLC bought a new position in Allogene Therapeutics during the 2nd quarter valued at approximately $6,797,000. Finally, Bank of America Corp DE purchased a new stake in Allogene Therapeutics in the second quarter worth $6,630,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Trading Up 1.9%

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

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its earnings results on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.15). Research analysts forecast that Allogene Therapeutics, Inc. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citizens Jmp reaffirmed a "market outperform" rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research report on Monday, August 17th. William Blair upgraded shares of Allogene Therapeutics to a "strong-buy" rating in a report on Wednesday, September 23rd. Weiss Ratings raised Allogene Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, October 21st. Finally, Wall Street Zen cut Allogene Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $8.30.

Insider Activity

In other Allogene Therapeutics news, SVP Earl Douglas sold 29,697 shares of the business's 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 directly owned 488,267 shares in the company, valued at $1,035,126.04. The trade was a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Geoffrey Parker sold 36,342 shares of the company's stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $1.34, for a total transaction of $48,698.28. Following the sale, the chief financial officer directly owned 1,045,877 shares of the company's stock, valued at $1,401,475.18. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 13.20% of the company's stock.

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.

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