426,274 Shares in Allogene Therapeutics, Inc. $ALLO Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 426,274 shares of the company’s stock, valued at approximately $887,000.

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

Allogene Therapeutics Trading Down 0.5%

Shares of Allogene Therapeutics stock opened at $1.97 on Friday. Allogene Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $4.46. The company has a market cap of $680.62 million, a price-to-earnings ratio of -2.94 and a beta of 0.47. The company’s 50-day moving average price is $1.98 and its 200-day moving average price is $2.16.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million for the quarter, compared to analysts’ expectations of $0.00 million. On average, sell-side analysts predict that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, SVP Earl Douglas sold 29,697 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $2.12, for a total value of $62,957.64. Following the completion of the transaction, the senior vice president directly owned 488,267 shares of the company’s stock, valued at $1,035,126.04. This trade represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citizens Jmp reaffirmed a “market outperform” rating and issued a $6.00 price objective on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings raised shares of Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. One research 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 company’s stock. Based on data from MarketBeat, Allogene Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

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.