Ieq Capital LLC Makes New Investment in Allogene Therapeutics, Inc. $ALLO

Ieq Capital LLC bought a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 580,371 shares of the company’s stock, valued at approximately $1,207,000. Ieq Capital LLC owned 0.17% of Allogene Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALLO. Pallas Capital Advisors LLC bought a new stake in shares of Allogene Therapeutics during the 2nd quarter worth approximately $25,000. Kestra Private Wealth Services LLC acquired a new position in Allogene Therapeutics during the first quarter valued at approximately $27,000. Russell Investments Group Ltd. raised its position in Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Allogene Therapeutics during the third quarter worth $30,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Allogene Therapeutics Stock Down 6.0%

Shares of Allogene Therapeutics stock opened at $2.04 on Thursday. The stock has a market cap of $704.80 million, a price-to-earnings ratio of -3.04 and a beta of 0.48. Allogene Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $4.46. The company’s fifty day moving average is $1.99 and its 200 day moving average is $2.14.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The company had revenue of $4.64 million for the quarter, compared to the consensus estimate of $0.00 million. As a group, equities analysts anticipate that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Allogene Therapeutics

In other news, SVP Earl Martin Douglas sold 29,697 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $2.12, for a total transaction of $62,957.64. Following the completion of the transaction, the senior vice president directly owned 488,267 shares in the company, valued at $1,035,126.04. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

About Allogene Therapeutics

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.