Candriam S.C.A. Raises Holdings in Allogene Therapeutics, Inc. $ALLO

Key Points

• Candriam S.C.A. increased its stake in Allogene Therapeutics by 30% in the first quarter, ending with 2.997 million shares valued at about $7.3 million.
• Other institutional investors also added to their ALLO positions, and hedge funds and institutions now own 83.63% of the company’s stock.
• Analyst sentiment is mixed but generally constructive, with a Moderate Buy consensus and a $8.52 average price target; the company also recently beat earnings estimates by $0.01 per share.

Candriam S.C.A. boosted its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 30.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,997,318 shares of the company's stock after acquiring an additional 691,674 shares during the quarter. Candriam S.C.A. owned 1.22% of Allogene Therapeutics worth $7,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ALLO. Aberdeen Group plc raised its holdings in shares of Allogene Therapeutics by 31.9% in the 4th quarter. Aberdeen Group plc now owns 2,086,332 shares of the company's stock worth $2,858,000 after purchasing an additional 504,067 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Allogene Therapeutics by 235.7% in the 4th quarter. GSA Capital Partners LLP now owns 613,998 shares of the company's stock valued at $841,000 after purchasing an additional 431,119 shares in the last quarter. R Squared Ltd grew its holdings in shares of Allogene Therapeutics by 40.5% during the 4th quarter. R Squared Ltd now owns 86,215 shares of the company's stock worth $118,000 after purchasing an additional 24,842 shares during the period. Choreo LLC purchased a new stake in shares of Allogene Therapeutics during the 4th quarter worth about $51,000. Finally, Scientech Research LLC acquired a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.63% of the company's stock.

Wall Street Analyst Weigh In

ALLO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allogene Therapeutics in a research report on Friday, May 1st. Jefferies Financial Group increased their price objective on shares of Allogene Therapeutics from $6.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Sanford C. Bernstein raised their target price on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the company a "market perform" rating in a research note on Tuesday, April 14th. HC Wainwright raised their target price on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Finally, Robert W. Baird lifted their target price on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.52.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $2.00 on Monday. The company has a market cap of $690.31 million, a P/E ratio of -2.60 and a beta of 0.46. Allogene Therapeutics, Inc. has a one year low of $0.98 and a one year high of $4.46. The business's 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.05.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.01. Analysts predict that Allogene Therapeutics, Inc. will post -0.7 earnings per share for the current year.

Allogene Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source