BNP Paribas Financial Markets Boosts Holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

BNP Paribas Financial Markets lifted its stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 1,732.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 849,658 shares of the company’s stock after purchasing an additional 803,284 shares during the period. BNP Paribas Financial Markets owned 0.41% of Allogene Therapeutics worth $1,810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Markets Corp purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $26,000. PAX Financial Group LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $27,000. RPO LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $31,000. Syon Capital LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $39,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $43,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock opened at $1.11 on Friday. The stock has a market capitalization of $242.76 million, a PE ratio of -0.71 and a beta of 0.60. Allogene Therapeutics, Inc. has a 52-week low of $0.86 and a 52-week high of $3.78. The company has a 50-day simple moving average of $1.48 and a two-hundred day simple moving average of $1.91.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). As a group, equities research analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at $10,342,075.24. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 61,757 shares of company stock valued at $115,873. Insiders own 13.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ALLO. Robert W. Baird dropped their target price on shares of Allogene Therapeutics from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial decreased their price target on shares of Allogene Therapeutics from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup lowered their price target on shares of Allogene Therapeutics from $8.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday. HC Wainwright lowered their price target 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, Oppenheimer lowered their price target on shares of Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.44.

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).