Hsbc Holdings PLC Invests $557,000 in Allogene Therapeutics, Inc. $ALLO

Hsbc Holdings PLC acquired a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 259,747 shares of the company’s stock, valued at approximately $557,000.

Other large investors have also bought and sold shares of the company. Pallas Capital Advisors LLC acquired a new position in Allogene Therapeutics during the second quarter worth about $25,000. Kestra Private Wealth Services LLC bought a new position in shares of Allogene Therapeutics during the 1st quarter valued at about $27,000. Russell Investments Group Ltd. boosted its position in shares of Allogene Therapeutics by 11,159.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after purchasing an additional 23,599 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Allogene Therapeutics in the 3rd quarter worth approximately $30,000. Institutional investors own 83.63% of the company’s stock.

Analyst Upgrades and Downgrades

ALLO has been the topic of several research reports. Weiss Ratings raised Allogene Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Citizens Jmp reissued a “market outperform” rating and set a $6.00 price objective on shares of Allogene Therapeutics in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allogene Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $8.30.

Insider Activity at Allogene Therapeutics

In related news, SVP Earl Martin Douglas sold 29,697 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $2.12, for a total value of $62,957.64. Following the completion of the transaction, the senior vice president owned 488,267 shares of the company’s stock, valued at approximately $1,035,126.04. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 13.20% of the company’s stock.

Allogene Therapeutics Trading Down 0.3%

NASDAQ ALLO opened at $1.98 on Thursday. Allogene Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $4.46. The company has a market cap of $684.07 million, a PE ratio of -2.96 and a beta of 0.47. The stock’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $2.16.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.04. The firm had revenue of $4.64 million during the quarter, compared to analyst estimates of $0.00 million. Research analysts forecast that Allogene Therapeutics, Inc. will post -0.59 EPS for the current fiscal year.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.