13,123,440 Shares in Allogene Therapeutics, Inc. $ALLO Bought by Primecap Management Co. CA

Primecap Management Co. CA acquired a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,123,440 shares of the company’s stock, valued at approximately $27,297,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Allogene Therapeutics in the second quarter worth about $62,706,000. Goldman Sachs Group Inc. lifted its position in shares of Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Allogene Therapeutics in the 2nd quarter valued at about $6,797,000. Kalehua Capital Management LLC bought a new stake in shares of Allogene Therapeutics in the 4th quarter valued at about $3,488,000. Finally, Patient Square Capital LP grew its position in shares of Allogene Therapeutics by 66.5% in the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock worth $6,800,000 after buying an additional 1,982,360 shares during the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALLO shares. Citizens Jmp reiterated a “market outperform” rating and set a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. Weiss Ratings downgraded shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO opened at $2.04 on Thursday. The business’s 50-day moving average is $1.99 and its 200 day moving average is $2.14. Allogene Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $4.46. The firm has a market capitalization of $704.80 million, a P/E ratio of -3.04 and a beta of 0.48.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. On average, analysts expect that Allogene Therapeutics, Inc. will post -0.59 EPS for the current year.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, SVP Earl Martin Douglas sold 29,697 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $2.12, for a total transaction of $62,957.64. Following the transaction, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 13.20% of the company’s stock.

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.