Daiwa Securities Group Inc. Acquires 17,471 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Daiwa Securities Group Inc. grew its holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 116.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,498 shares of the company’s stock after acquiring an additional 17,471 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Allogene Therapeutics were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Allogene Therapeutics by 55.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,551 shares of the company’s stock valued at $72,000 after acquiring an additional 8,037 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of Allogene Therapeutics in the fourth quarter valued at approximately $195,000. Vontobel Holding Ltd. boosted its position in shares of Allogene Therapeutics by 28.6% in the fourth quarter. Vontobel Holding Ltd. now owns 18,000 shares of the company’s stock valued at $58,000 after acquiring an additional 4,000 shares during the period. Cerity Partners LLC bought a new position in Allogene Therapeutics in the fourth quarter worth $1,661,000. Finally, Aaron Wealth Advisors LLC bought a new position in Allogene Therapeutics in the fourth quarter worth $34,000. 83.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALLO. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. JPMorgan Chase & Co. reduced their target price on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Guggenheim cut Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 15th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.94.

Allogene Therapeutics Price Performance

Allogene Therapeutics stock opened at $2.89 on Friday. The stock has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $3.54. Allogene Therapeutics, Inc. has a 52-week low of $2.23 and a 52-week high of $6.89. The firm has a market capitalization of $493.38 million, a P/E ratio of -1.38 and a beta of 0.81.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.04. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. On average, equities research analysts predict that Allogene Therapeutics, Inc. will post -1.69 EPS 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 acute lymphoblastic leukemia (ALL).