3,448,275 Shares in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Bought by Foresite Capital Management VI LLC

Foresite Capital Management VI LLC bought a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,448,275 shares of the company’s stock, valued at approximately $7,345,000. Allogene Therapeutics accounts for about 3.3% of Foresite Capital Management VI LLC’s portfolio, making the stock its 11th biggest position. Foresite Capital Management VI LLC owned about 1.64% of Allogene Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALLO. Cibc World Markets Corp bought a new position in Allogene Therapeutics in the 4th quarter worth $26,000. PAX Financial Group LLC bought a new position in Allogene Therapeutics in the 4th quarter worth $27,000. RPO LLC bought a new position in shares of Allogene Therapeutics during the 4th quarter worth about $31,000. Syon Capital LLC bought a new position in shares of Allogene Therapeutics during the 4th quarter worth about $39,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Allogene Therapeutics during the fourth quarter valued at about $43,000. Institutional investors own 83.63% of the company’s stock.

Insider Transactions at Allogene Therapeutics

In other news, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 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 value of $91,469.28. Following the sale, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at $10,342,075.24. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,268 shares of company stock valued at $159,584. Corporate insiders own 24.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Allogene Therapeutics Trading Down 1.3 %

Shares of ALLO opened at $1.55 on Monday. Allogene Therapeutics, Inc. has a 1 year low of $1.23 and a 1 year high of $3.78. The stock has a 50 day simple moving average of $1.70 and a 200-day simple moving average of $2.05. The stock has a market cap of $336.76 million, a PE ratio of -0.99 and a beta of 0.99.

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

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).