Moloney Securities Asset Management LLC Purchases New Stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Moloney Securities Asset Management LLC acquired a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 295,000 shares of the company's stock, valued at approximately $431,000. Moloney Securities Asset Management LLC owned approximately 0.14% of Allogene Therapeutics at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lynx1 Capital Management LP boosted its stake in Allogene Therapeutics by 75.3% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Allogene Therapeutics by 30.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company's stock valued at $7,586,000 after purchasing an additional 831,146 shares in the last quarter. Foresite Capital Management VI LLC acquired a new position in shares of Allogene Therapeutics in the 4th quarter valued at about $7,345,000. Two Sigma Advisers LP lifted its stake in shares of Allogene Therapeutics by 12.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,702,200 shares of the company's stock valued at $5,756,000 after purchasing an additional 291,800 shares in the last quarter. Finally, Patient Square Capital LP acquired a new position in shares of Allogene Therapeutics in the 4th quarter valued at about $3,174,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ALLO. Citigroup reduced their price objective on Allogene Therapeutics from $8.00 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Truist Financial reduced their price objective on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. HC Wainwright reduced their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Citizens Jmp lowered Allogene Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Wednesday, May 14th. Finally, Piper Sandler reduced their price target on Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.44.

Allogene Therapeutics Stock Up 0.8%

Shares of ALLO traded up $0.01 during trading on Monday, reaching $1.29. The company's stock had a trading volume of 1,793,191 shares, compared to its average volume of 3,321,932. The company has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.59. Allogene Therapeutics, Inc. has a twelve month low of $0.86 and a twelve month high of $3.78. The company has a market cap of $282.16 million, a price-to-earnings ratio of -1.05 and a beta of 0.31.

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

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).