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

Bank of America Corp DE raised its stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 99.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,163,743 shares of the company's stock after purchasing an additional 579,818 shares during the period. Bank of America Corp DE owned 0.56% of Allogene Therapeutics worth $2,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Allogene Therapeutics by 1,732.2% in the fourth quarter. BNP Paribas Financial Markets now owns 849,658 shares of the company's stock worth $1,810,000 after buying an additional 803,284 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Allogene Therapeutics by 14.0% in the fourth quarter. Ameriprise Financial Inc. now owns 201,943 shares of the company's stock worth $430,000 after buying an additional 24,830 shares in the last quarter. Foresite Capital Management VI LLC purchased a new position in shares of Allogene Therapeutics in the fourth quarter worth about $7,345,000. Northern Trust Corp lifted its stake in shares of Allogene Therapeutics by 4.5% in the fourth quarter. Northern Trust Corp now owns 1,305,232 shares of the company's stock worth $2,780,000 after buying an additional 56,693 shares in the last quarter. Finally, Lynx1 Capital Management LP lifted its stake in shares of Allogene Therapeutics by 75.3% in the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company's stock worth $23,163,000 after buying an additional 4,672,349 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Trading Up 0.4%

Allogene Therapeutics stock traded up $0.01 during trading on Thursday, hitting $1.30. The company had a trading volume of 296,378 shares, compared to its average volume of 3,304,027. Allogene Therapeutics, Inc. has a 1-year low of $0.86 and a 1-year high of $3.78. The company's 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.77. The stock has a market cap of $283.26 million, a price-to-earnings ratio of -0.83 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). As a group, analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALLO shares. HC Wainwright cut their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Oppenheimer cut their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Robert W. Baird cut their price objective on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Citigroup cut their price objective on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Allogene Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $8.44.

Insider Activity at Allogene Therapeutics

In related 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 value of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 61,757 shares of company stock worth $115,873. Insiders own 13.20% of the company's stock.

Allogene Therapeutics Company 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).