Bank of New York Mellon Corp Takes $1.51 Million Position in Allogene Therapeutics, Inc. $ALLO

Bank of New York Mellon Corp bought a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 727,182 shares of the company's stock, valued at approximately $1,513,000. Bank of New York Mellon Corp owned about 0.21% of Allogene Therapeutics as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Allogene Therapeutics by 177.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after acquiring an additional 3,747,397 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Allogene Therapeutics in the second quarter valued at about $6,797,000. Kalehua Capital Management LLC bought a new position in shares of Allogene Therapeutics during the fourth quarter valued at about $3,488,000. Patient Square Capital LP lifted its position in shares of Allogene Therapeutics by 66.5% during the fourth quarter. Patient Square Capital LP now owns 4,963,756 shares of the company's stock valued at $6,800,000 after purchasing an additional 1,982,360 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Allogene Therapeutics by 125.6% during the third quarter. Millennium Management LLC now owns 3,390,026 shares of the company's stock worth $4,204,000 after purchasing an additional 1,887,302 shares during the last quarter. Institutional investors own 83.63% of the company's stock.

Insiders Place Their Bets

In other Allogene Therapeutics news, SVP Earl Douglas sold 29,697 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $2.12, for a total value of $62,957.64. Following the completion of the sale, the senior vice president directly owned 488,267 shares of the company's stock, valued at $1,035,126.04. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.

Allogene Therapeutics Stock Down 7.0%

ALLO opened at $1.73 on Thursday. The stock has a market cap of $597.70 million, a price-to-earnings ratio of -2.58 and a beta of 0.47. Allogene Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $4.46. The company's 50-day moving average price is $1.97 and its two-hundred day moving average price is $2.15.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to analysts' expectations of $0.00 million. As a group, sell-side analysts anticipate that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Analysts Set New Price Targets

ALLO has been the subject of several analyst reports. Citizens Jmp reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings raised Allogene Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average 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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