MML Investors Services LLC Takes Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

MML Investors Services LLC bought a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the company’s stock, valued at approximately $56,000.

A number of other large investors have also modified their holdings of the stock. Zacks Investment Management acquired a new position in Allogene Therapeutics during the 3rd quarter worth approximately $1,446,000. Renaissance Technologies LLC grew its stake in Allogene Therapeutics by 340.4% in the second quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company’s stock worth $4,073,000 after purchasing an additional 1,351,055 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after buying an additional 507,021 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Allogene Therapeutics by 70.3% during the second quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company’s stock valued at $1,119,000 after buying an additional 198,231 shares in the last quarter. Finally, Primecap Management Co. CA lifted its holdings in Allogene Therapeutics by 4.1% during the 2nd quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after buying an additional 221,840 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Trading Up 0.9 %

NASDAQ:ALLO opened at $2.19 on Friday. The company has a 50-day moving average of $2.41 and a 200-day moving average of $2.55. Allogene Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $5.78. The firm has a market cap of $459.18 million, a price-to-earnings ratio of -1.40 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a research note on Friday, November 8th. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Piper Sandler decreased their price objective on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.73.

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).