Patient Square Capital LP Invests $3.17 Million in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Patient Square Capital LP acquired a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,489,909 shares of the company’s stock, valued at approximately $3,174,000. Allogene Therapeutics makes up approximately 1.2% of Patient Square Capital LP’s investment portfolio, making the stock its 15th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Lynx1 Capital Management LP boosted its position in Allogene Therapeutics by 75.3% during the 4th quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock worth $23,163,000 after acquiring an additional 4,672,349 shares during the period. Foresite Capital Management VI LLC bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth $7,345,000. Gilead Sciences Inc. acquired a new stake in Allogene Therapeutics during the 4th quarter worth about $2,464,000. Dimensional Fund Advisors LP raised its holdings in shares of Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after acquiring an additional 831,146 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Allogene Therapeutics by 1,732.2% during the 4th quarter. BNP Paribas Financial Markets now owns 849,658 shares of the company’s stock worth $1,810,000 after acquiring an additional 803,284 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Down 3.4%

NASDAQ:ALLO opened at $1.13 on Wednesday. The company’s 50 day moving average is $1.55 and its 200-day moving average is $1.95. Allogene Therapeutics, Inc. has a 12 month low of $1.06 and a 12 month high of $3.78. The firm has a market cap of $247.14 million, a price-to-earnings ratio of -0.72 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). Research analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Friday, March 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, HC Wainwright lowered their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.29.

Insider Transactions at Allogene Therapeutics

In related news, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 5,276,569 shares of the company’s stock, valued at approximately $10,342,075.24. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 61,757 shares of company stock worth $115,873 over the last three months. 13.20% of the stock is currently owned by insiders.

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).