Principal Financial Group Inc. Lowers Stock Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Principal Financial Group Inc. cut its position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 45.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,836 shares of the company’s stock after selling 13,935 shares during the quarter. Principal Financial Group Inc.’s holdings in Allogene Therapeutics were worth $39,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after buying an additional 8,734 shares in the last quarter. Phoenix Wealth Advisors bought a new stake in Allogene Therapeutics during the second quarter worth $30,000. Victory Capital Management Inc. lifted its holdings in Allogene Therapeutics by 23.1% during the fourth quarter. Victory Capital Management Inc. now owns 14,283 shares of the company’s stock worth $46,000 after acquiring an additional 2,680 shares during the period. RPO LLC purchased a new position in Allogene Therapeutics in the fourth quarter worth $46,000. Finally, Headlands Technologies LLC bought a new position in Allogene Therapeutics in the 1st quarter valued at $78,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALLO shares. Oppenheimer assumed coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a research note on Thursday, August 15th. Citigroup increased their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Piper Sandler initiated coverage on Allogene Therapeutics in a research report on Friday, May 31st. They issued an “overweight” rating and a $11.00 target price for the company. Finally, Truist Financial reaffirmed a “buy” rating and set a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Allogene Therapeutics has an average rating of “Moderate Buy” and an average target price of $9.96.

Allogene Therapeutics Price Performance

NASDAQ:ALLO opened at $2.76 on Tuesday. The company has a market cap of $576.84 million, a P/E ratio of -1.54 and a beta of 0.83. Allogene Therapeutics, Inc. has a 1 year low of $2.01 and a 1 year high of $5.78. The stock’s fifty day moving average price is $2.69 and its two-hundred day moving average price is $3.08.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Wednesday, August 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Allogene Therapeutics had a negative return on equity of 50.24% and a negative net margin of 223,139.98%. On average, analysts expect that Allogene Therapeutics, Inc. will post -1.38 earnings per share for the current fiscal year.

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).