701,901 Shares in Allogene Therapeutics, Inc. $ALLO Acquired by Man Group plc

Man Group plc bought a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 701,901 shares of the company’s stock, valued at approximately $1,460,000. Man Group plc owned 0.20% of Allogene Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Allogene Therapeutics during the 2nd quarter worth $1,504,000. BlackRock Inc. purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter worth $62,706,000. Walleye Capital LLC purchased a new stake in shares of Allogene Therapeutics in the 2nd quarter worth $6,797,000. Candriam S.C.A. raised its holdings in Allogene Therapeutics by 30.0% in the 1st quarter. Candriam S.C.A. now owns 2,997,318 shares of the company’s stock worth $7,313,000 after purchasing an additional 691,674 shares during the period. Finally, Bank of America Corp DE raised its holdings in Allogene Therapeutics by 111.9% in the 1st quarter. Bank of America Corp DE now owns 2,134,473 shares of the company’s stock worth $5,208,000 after purchasing an additional 1,127,145 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Performance

ALLO opened at $1.98 on Thursday. Allogene Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.46. The firm’s fifty day moving average is $1.99 and its 200 day moving average is $2.16. The stock has a market cap of $684.07 million, a price-to-earnings ratio of -2.96 and a beta of 0.47.

Allogene Therapeutics (NASDAQ:ALLO) last issued its 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 firm had revenue of $4.64 million during the quarter, compared to the consensus estimate of $0.00 million. On average, equities research analysts predict that Allogene Therapeutics, Inc. will post -0.59 earnings per share for the current year.

Insider Buying and Selling at Allogene Therapeutics

In related news, SVP Earl Martin Douglas sold 29,697 shares of the 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 sale, the senior vice president owned 488,267 shares in the company, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 13.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citizens Jmp reissued a “market outperform” rating and set a $6.00 price target on shares of Allogene Therapeutics in a report on Monday, August 17th. Weiss Ratings raised Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.30.

Allogene Therapeutics Company 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.