Citigroup Inc. Grows Stock Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Citigroup Inc. raised its holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 61.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 555,343 shares of the company’s stock after buying an additional 210,972 shares during the quarter. Citigroup Inc. owned approximately 0.38% of Allogene Therapeutics worth $2,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Allogene Therapeutics by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 165,378 shares of the company’s stock worth $817,000 after acquiring an additional 1,933 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Allogene Therapeutics by 11.3% in the 3rd quarter. Ensign Peak Advisors Inc now owns 20,910 shares of the company’s stock valued at $226,000 after purchasing an additional 2,120 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Allogene Therapeutics by 0.9% during the 4th quarter. Principal Financial Group Inc. now owns 250,859 shares of the company’s stock valued at $1,578,000 after buying an additional 2,316 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Allogene Therapeutics by 25.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,514 shares of the company’s stock worth $91,000 after buying an additional 2,928 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Allogene Therapeutics by 24.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock worth $137,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ALLO shares. Oppenheimer restated an “outperform” rating and set a $28.00 price target on shares of Allogene Therapeutics in a research note on Thursday, August 3rd. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Allogene Therapeutics in a research report on Monday, August 7th. Finally, Truist Financial decreased their target price on Allogene Therapeutics from $20.00 to $18.00 in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.35.

Insider Activity at Allogene Therapeutics

In related news, Director Stephen Mayo sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $4.29, for a total transaction of $42,900.00. Following the sale, the director now owns 25,328 shares of the company’s stock, valued at $108,657.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 27.40% of the stock is currently owned by insiders.

Allogene Therapeutics Stock Performance

ALLO opened at $4.05 on Tuesday. The company has a 50-day moving average of $4.65 and a 200-day moving average of $5.26. Allogene Therapeutics, Inc. has a 1-year low of $3.70 and a 1-year high of $15.56. The company has a market capitalization of $678.90 million, a P/E ratio of -1.65 and a beta of 0.77.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.06. Allogene Therapeutics had a negative net margin of 184,733.34% and a negative return on equity of 54.13%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.01 million. During the same quarter in the previous year, the company posted ($0.52) earnings per share. The company’s revenue for the quarter was down 48.8% compared to the same quarter last year. As a group, sell-side analysts expect that Allogene Therapeutics, Inc. will post -2.25 earnings per share for the current fiscal year.

Allogene Therapeutics Company Profile

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 ALL.