JPMorgan Chase & Co. Reduces Stock Holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

JPMorgan Chase & Co. cut its position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,736,132 shares of the company’s stock after selling 351,374 shares during the period. JPMorgan Chase & Co. owned approximately 1.78% of Allogene Therapeutics worth $7,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALLO. abrdn plc purchased a new stake in shares of Allogene Therapeutics during the 4th quarter valued at approximately $776,000. Barclays PLC grew its position in Allogene Therapeutics by 101.5% in the third quarter. Barclays PLC now owns 342,973 shares of the company’s stock worth $959,000 after acquiring an additional 172,745 shares during the period. Geode Capital Management LLC increased its stake in Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after acquiring an additional 407,070 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Allogene Therapeutics by 788.4% in the 4th quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after purchasing an additional 173,457 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Allogene Therapeutics during the 3rd quarter worth $56,000. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ALLO shares. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 14th. HC Wainwright lowered their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Finally, Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.29.

Allogene Therapeutics Stock Down 4.1 %

Allogene Therapeutics stock opened at $1.40 on Thursday. The company’s 50 day moving average is $1.74 and its two-hundred day moving average is $2.11. The firm has a market cap of $304.17 million, a PE ratio of -0.90 and a beta of 0.99. Allogene Therapeutics, Inc. has a 52-week low of $1.23 and a 52-week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. On average, equities research analysts anticipate that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This represents a 5.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David D. Chang sold 46,668 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the sale, the chief executive officer now owns 5,276,569 shares in the company, valued at $10,342,075.24. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,866 shares of company stock worth $194,461. 24.30% of the stock is currently owned by company insiders.

Allogene Therapeutics 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).