Bank of New York Mellon Corp Purchases 13,150 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Bank of New York Mellon Corp boosted its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 330,769 shares of the company’s stock after buying an additional 13,150 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.16% of Allogene Therapeutics worth $705,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. abrdn plc acquired a new stake in shares of Allogene Therapeutics in the fourth quarter valued at about $776,000. Barclays PLC grew its holdings in Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after buying an additional 172,745 shares during the last quarter. Zacks Investment Management acquired a new stake in Allogene Therapeutics in the 3rd quarter valued at approximately $1,446,000. Geode Capital Management LLC increased its position in Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after buying an additional 407,070 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock worth $416,000 after buying an additional 173,457 shares during the last quarter. Institutional investors own 83.63% of the company’s stock.

Insider Buying and Selling at Allogene Therapeutics

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 stock was sold at an average price of $1.96, for a total value of $91,469.28. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the sale, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,866 shares of company stock worth $194,461 over the last ninety days. Corporate insiders own 24.30% of the company’s stock.

Allogene Therapeutics Price Performance

Shares of ALLO stock opened at $1.57 on Thursday. The stock’s fifty day simple moving average is $1.87 and its 200 day simple moving average is $2.26. Allogene Therapeutics, Inc. has a one year low of $1.32 and a one year high of $4.63. The firm has a market cap of $341.11 million, a price-to-earnings ratio of -1.01 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

ALLO has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. HC Wainwright reduced their price objective on 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 price objective on the stock in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.29.

About Allogene Therapeutics

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).