Price T Rowe Associates Inc. MD Reduces Stock Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Price T Rowe Associates Inc. MD cut its position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,485,572 shares of the company's stock after selling 353,171 shares during the quarter. Price T Rowe Associates Inc. MD owned 2.14% of Allogene Therapeutics worth $9,555,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ALLO. Invesco Ltd. boosted its stake in Allogene Therapeutics by 7.0% in the 4th quarter. Invesco Ltd. now owns 127,486 shares of the company's stock valued at $272,000 after buying an additional 8,359 shares in the last quarter. Nordea Investment Management AB increased its holdings in Allogene Therapeutics by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company's stock valued at $986,000 after purchasing an additional 9,635 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Allogene Therapeutics by 28.9% in the fourth quarter. Teacher Retirement System of Texas now owns 43,877 shares of the company's stock worth $93,000 after purchasing an additional 9,839 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Allogene Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company's stock valued at $2,532,000 after acquiring an additional 9,990 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Allogene Therapeutics during the 4th quarter worth approximately $26,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Trading Up 0.8 %

Shares of NASDAQ:ALLO traded up $0.01 during midday trading on Friday, hitting $1.19. 1,309,428 shares of the stock were exchanged, compared to its average volume of 3,279,269. The stock has a market cap of $260.26 million, a P/E ratio of -0.76 and a beta of 0.60. Allogene Therapeutics, Inc. has a twelve month low of $1.09 and a twelve month high of $3.78. The company has a 50 day moving average price of $1.59 and a 200-day moving average price of $1.98.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. On average, equities research analysts expect that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Transactions at Allogene Therapeutics

In related news, CEO David D. Chang sold 46,668 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 61,757 shares of company stock valued at $115,873. 24.30% of the stock is owned by insiders.

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).