BNP Paribas Financial Markets Acquires 803,284 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

BNP Paribas Financial Markets boosted its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 1,732.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 849,658 shares of the company's stock after acquiring an additional 803,284 shares during the period. BNP Paribas Financial Markets owned 0.41% of Allogene Therapeutics worth $1,810,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. abrdn plc bought a new position in Allogene Therapeutics in the fourth quarter valued at about $776,000. Vontobel Holding Ltd. increased its position in shares of Allogene Therapeutics by 788.4% during the 4th 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. acquired a new position in shares of Allogene Therapeutics during the 4th quarter worth approximately $2,464,000. Charles Schwab Investment Management Inc. grew its holdings in Allogene Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock valued at $2,532,000 after buying an additional 9,990 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in Allogene Therapeutics in the 4th quarter valued at $26,000. Institutional investors own 83.63% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on ALLO. HC Wainwright decreased their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Truist Financial cut their target price 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. Robert W. Baird cut their target price on 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 target price on 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 reiterated an "outperform" rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $8.44.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded up $0.07 on Tuesday, hitting $1.16. 3,128,306 shares of the company's stock were exchanged, compared to its average volume of 3,356,145. Allogene Therapeutics, Inc. has a 12 month low of $0.86 and a 12 month high of $3.78. The stock has a market cap of $253.73 million, a P/E ratio of -0.74 and a beta of 0.60. The company has a 50 day moving average of $1.45 and a 200 day moving average of $1.89.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). Sell-side analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.96, for a total value 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. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 61,757 shares of company stock worth $115,873. 13.20% of the stock is currently owned by insiders.

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).