Patient Square Capital LP Makes New $3.17 Million Investment in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Patient Square Capital LP bought a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,489,909 shares of the company's stock, valued at approximately $3,174,000. Allogene Therapeutics makes up about 1.2% of Patient Square Capital LP's holdings, making the stock its 15th biggest holding. Patient Square Capital LP owned about 0.71% of Allogene Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Cibc World Markets Corp purchased a new position in Allogene Therapeutics in the 4th quarter worth approximately $26,000. PAX Financial Group LLC acquired a new position in shares of Allogene Therapeutics during the fourth quarter worth $27,000. RPO LLC purchased a new position in shares of Allogene Therapeutics in the fourth quarter valued at $31,000. Caption Management LLC acquired a new stake in Allogene Therapeutics during the 4th quarter valued at $32,000. Finally, Syon Capital LLC acquired a new stake in Allogene Therapeutics during the 4th quarter valued at $39,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.13 on Wednesday. The stock has a market capitalization of $247.14 million, a PE ratio of -0.72 and a beta of 0.60. The business's fifty day moving average price is $1.55 and its 200 day moving average price is $1.95. Allogene Therapeutics, Inc. has a 12-month low of $1.06 and a 12-month high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.28). As a group, research analysts anticipate that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALLO shares. HC Wainwright decreased their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Citizens Jmp raised Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 price target for the company in a report on Friday, March 14th. Canaccord Genuity Group restated a "buy" rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Allogene Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $9.29.

Insider Buying and Selling at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 61,757 shares of company stock worth $115,873. 13.20% of the stock is owned by insiders.

About Allogene Therapeutics

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.