Walleye Capital LLC Invests $6.80 Million in Allogene Therapeutics, Inc. $ALLO

Key Points

• Walleye Capital acquired 3.27 million shares of Allogene Therapeutics worth approximately $6.8 million, representing about 0.95% of the company. Institutional investors and hedge funds collectively own 83.63% of ALLO.
• Allogene shares opened at $2.05, up 3.5%, with the stock trading between a 52-week low of $1.03 and high of $4.46. The company reported a quarterly loss of $0.13 per share, beating analyst expectations of a $0.17 loss.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $8.52, despite Weiss Ratings downgrading the stock to “sell.”

Walleye Capital LLC acquired a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,268,012 shares of the company's stock, valued at approximately $6,797,000. Walleye Capital LLC owned approximately 0.95% of Allogene Therapeutics as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Allogene Therapeutics by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company's stock valued at $11,186,000 after acquiring an additional 761,642 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Allogene Therapeutics by 15.0% in the fourth quarter. Primecap Management Co. CA now owns 8,139,840 shares of the company's stock valued at $11,152,000 after purchasing an additional 1,060,532 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock valued at $8,547,000 after purchasing an additional 3,747,397 shares in the last quarter. Patient Square Capital LP grew its position in shares of Allogene Therapeutics by 66.5% in 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Allogene Therapeutics by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 3,932,910 shares of the company's stock valued at $5,389,000 after purchasing an additional 99,025 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Trading Up 3.5%

Allogene Therapeutics stock opened at $2.05 on Friday. The stock has a market cap of $707.57 million, a PE ratio of -3.06 and a beta of 0.48. The stock has a 50-day moving average price of $1.96 and a 200 day moving average price of $2.12. Allogene Therapeutics, Inc. has a 52 week low of $1.03 and a 52 week high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. On average, equities analysts predict that Allogene Therapeutics, Inc. will post -0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Allogene Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Allogene Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $8.52.

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.

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