Allogene Therapeutics, Inc. (NASDAQ:ALLO) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE raised its holdings in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 99.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,163,743 shares of the company's stock after buying an additional 579,818 shares during the quarter. Bank of America Corp DE owned about 0.56% of Allogene Therapeutics worth $2,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. abrdn plc purchased a new position in Allogene Therapeutics during the fourth quarter worth about $776,000. Vontobel Holding Ltd. lifted its stake in Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company's stock worth $416,000 after purchasing an additional 173,457 shares during the last quarter. Gilead Sciences Inc. bought a new stake in Allogene Therapeutics during the fourth quarter worth about $2,464,000. Charles Schwab Investment Management Inc. lifted its stake in Allogene Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock worth $2,532,000 after purchasing an additional 9,990 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Allogene Therapeutics during the fourth quarter worth about $26,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Price Performance

Allogene Therapeutics stock remained flat at $1.29 during trading on Thursday. The company had a trading volume of 1,646,951 shares, compared to its average volume of 3,311,131. The business's 50 day moving average is $1.34 and its 200-day moving average is $1.76. The stock has a market capitalization of $282.16 million, a price-to-earnings ratio of -0.83 and a beta of 0.60. Allogene Therapeutics, Inc. has a one year low of $0.86 and a one year high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting the consensus estimate of ($0.28). On average, sell-side analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Insider Buying and Selling at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of Allogene Therapeutics stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 61,757 shares of company stock worth $115,873 over the last 90 days. Company insiders own 13.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Robert W. Baird dropped their price target on Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Canaccord Genuity Group reissued a "buy" rating and issued a $14.00 target price on shares of Allogene Therapeutics in a research note on Friday, March 14th. Truist Financial lowered their price target on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Citizens Jmp downgraded Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a report on Wednesday, May 14th. Finally, HC Wainwright cut their price target on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Allogene Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $8.44.

Allogene Therapeutics Profile

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).