Frazier Life Sciences Management L.P. Raises Stake in Allogene Therapeutics, Inc. $ALLO

Key Points

• Frazier Life Sciences Management L.P. increased its stake in Allogene Therapeutics by 34.9%, owning approximately 3.87 million shares worth $5.65 million as of its latest SEC filing.
• Multiple institutional investors, including Dimensional Fund Advisors LP and Two Sigma Advisers LP, have significantly increased their holdings in Allogene Therapeutics, which now has 83.63% of its stock owned by institutional investors.
• Wall Street analysts have recently adjusted their target prices for Allogene Therapeutics downwards, with Piper Sandler lowering theirs from $9.00 to $7.00, influencing the consensus rating to a "Moderate Buy" with an average target price of $8.44.

Frazier Life Sciences Management L.P. increased its stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 34.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,868,750 shares of the company's stock after purchasing an additional 1,001,000 shares during the quarter. Frazier Life Sciences Management L.P. owned approximately 1.77% of Allogene Therapeutics worth $5,648,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Allogene Therapeutics by 6.0% during the 4th quarter. California State Teachers Retirement System now owns 135,554 shares of the company's stock valued at $289,000 after purchasing an additional 7,685 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Allogene Therapeutics by 13.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 68,858 shares of the company's stock worth $101,000 after purchasing an additional 8,183 shares during the last quarter. Invesco Ltd. grew its holdings in Allogene Therapeutics by 7.0% during the 4th quarter. Invesco Ltd. now owns 127,486 shares of the company's stock worth $272,000 after acquiring an additional 8,359 shares during the last quarter. ProShare Advisors LLC grew its holdings in Allogene Therapeutics by 25.6% during the 4th quarter. ProShare Advisors LLC now owns 46,082 shares of the company's stock worth $98,000 after acquiring an additional 9,388 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Allogene Therapeutics by 4.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 264,065 shares of the company's stock worth $386,000 after acquiring an additional 10,489 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Price Performance

NASDAQ ALLO traded up $0.04 during trading hours on Friday, reaching $1.15. The company's stock had a trading volume of 2,348,697 shares, compared to its average volume of 3,851,529. The firm has a fifty day simple moving average of $1.19 and a 200-day simple moving average of $1.39. The stock has a market cap of $255.16 million, a P/E ratio of -1.04 and a beta of 0.36. Allogene Therapeutics, Inc. has a 52 week low of $0.86 and a 52 week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. On average, research analysts expect that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Citigroup cut their price target on shares of Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Robert W. Baird lowered their price objective on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. JMP Securities restated a "market perform" rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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).