Bank of America Corp DE Buys 579,818 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Bank of America Corp DE raised its stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 99.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,163,743 shares of the company’s stock after purchasing an additional 579,818 shares during the period. Bank of America Corp DE owned approximately 0.56% of Allogene Therapeutics worth $2,479,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in Allogene Therapeutics by 1,732.2% in the 4th quarter. BNP Paribas Financial Markets now owns 849,658 shares of the company’s stock valued at $1,810,000 after purchasing an additional 803,284 shares during the period. Ameriprise Financial Inc. boosted its holdings in Allogene Therapeutics by 14.0% in the 4th quarter. Ameriprise Financial Inc. now owns 201,943 shares of the company’s stock valued at $430,000 after purchasing an additional 24,830 shares during the period. Foresite Capital Management VI LLC bought a new stake in Allogene Therapeutics in the 4th quarter valued at $7,345,000. Northern Trust Corp boosted its holdings in Allogene Therapeutics by 4.5% in the 4th quarter. Northern Trust Corp now owns 1,305,232 shares of the company’s stock valued at $2,780,000 after purchasing an additional 56,693 shares during the period. Finally, Lynx1 Capital Management LP boosted its holdings in Allogene Therapeutics by 75.3% in the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock valued at $23,163,000 after purchasing an additional 4,672,349 shares during the period. 83.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALLO has been the subject of a number of research reports. Robert W. Baird reduced their price target on shares of Allogene Therapeutics from $12.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, May 14th. Truist Financial reduced their price objective on shares of Allogene Therapeutics from $14.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Wednesday, May 14th. Piper Sandler lowered their target price on shares of Allogene Therapeutics from $9.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Finally, Citizens Jmp cut shares of Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.44.

Allogene Therapeutics Stock Down 1.3%

Shares of ALLO opened at $1.17 on Monday. The stock has a market cap of $254.82 million, a price-to-earnings ratio of -0.75 and a beta of 0.60. Allogene Therapeutics, Inc. has a 12 month low of $0.86 and a 12 month high of $3.78. The company has a 50-day moving average price of $1.35 and a two-hundred day moving average price of $1.78.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, hitting the consensus estimate of ($0.28). Equities research analysts expect that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In other news, CEO David D. Chang sold 46,668 shares of the firm’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 sale, the chief executive officer now owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 61,757 shares of company stock valued at $115,873. Corporate insiders own 13.20% of the company’s stock.

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).