Raiffeisen Bank International AG Makes New $903,000 Investment in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Raiffeisen Bank International AG acquired a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 430,000 shares of the company's stock, valued at approximately $903,000. Raiffeisen Bank International AG owned 0.21% of Allogene Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp acquired a new position in shares of Allogene Therapeutics in the fourth quarter worth approximately $26,000. PAX Financial Group LLC acquired a new position in Allogene Therapeutics in the fourth quarter valued at approximately $27,000. RPO LLC acquired a new position in Allogene Therapeutics in the fourth quarter valued at approximately $31,000. Caption Management LLC acquired a new position in Allogene Therapeutics in the fourth quarter valued at approximately $32,000. Finally, Syon Capital LLC acquired a new position in Allogene Therapeutics in the fourth quarter valued at approximately $39,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO traded up $0.07 during trading on Tuesday, reaching $1.16. 3,128,306 shares of the stock were exchanged, compared to its average volume of 3,356,145. The stock has a fifty day moving average of $1.47 and a two-hundred day moving average of $1.90. Allogene Therapeutics, Inc. has a 1-year low of $0.86 and a 1-year high of $3.78. The firm has a market cap of $253.73 million, a price-to-earnings ratio of -0.74 and a beta of 0.60.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALLO. HC Wainwright dropped their price target 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. Citigroup dropped their price target 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. Royal Bank of Canada reissued an "outperform" rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Wednesday, May 14th. Piper Sandler lowered their target price 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. Finally, Truist Financial lowered their target price on Allogene Therapeutics from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Allogene Therapeutics has an average rating of "Moderate Buy" and an average target price of $8.44.

Insider Buying and Selling at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the stock in a transaction on Friday, March 14th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 61,757 shares of company stock worth $115,873 over the last ninety days. 13.20% of the stock is currently owned by company 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).