Patient Square Capital LP Takes $3.17 Million Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Patient Square Capital LP purchased a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,489,909 shares of the company's stock, valued at approximately $3,174,000. Allogene Therapeutics accounts for approximately 1.2% of Patient Square Capital LP's investment portfolio, making the stock its 15th biggest position. Patient Square Capital LP owned about 0.71% of Allogene Therapeutics as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ALLO. Cibc World Markets Corp bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at approximately $26,000. PAX Financial Group LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $27,000. RPO LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter valued at $31,000. Caption Management LLC purchased a new stake in Allogene Therapeutics during the 4th quarter valued at $32,000. Finally, Syon Capital LLC purchased a new stake in Allogene Therapeutics during the 4th quarter valued at $39,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer decreased their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Piper Sandler dropped their target price on shares of Allogene Therapeutics from $9.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. HC Wainwright reduced their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Robert W. Baird cut their target price on shares of Allogene Therapeutics from $12.00 to $9.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $8.44.

Insiders Place Their Bets

In related news, CEO David D. Chang sold 46,668 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the transaction, the chief executive officer now directly owns 5,276,569 shares of the company's stock, valued at $10,342,075.24. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 61,757 shares of company stock worth $115,873 over the last three months. Company insiders own 13.20% of the company's stock.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded up $0.01 during mid-day trading on Monday, hitting $1.12. 1,249,049 shares of the stock traded hands, compared to its average volume of 3,351,533. The stock has a market cap of $243.89 million, a P/E ratio of -0.71 and a beta of 0.60. The stock's fifty day moving average is $1.48 and its two-hundred day moving average is $1.91. 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 issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) EPS for the quarter, hitting analysts' consensus estimates 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).