Candriam S.C.A. raised its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO – Free Report) by 30.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,997,318 shares of the company’s stock after purchasing an additional 691,674 shares during the period. Candriam S.C.A.’s holdings in Allogene Therapeutics were worth $7,313,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its position in shares of Allogene Therapeutics by 23.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock worth $40,000 after acquiring an additional 5,514 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Allogene Therapeutics by 27.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock worth $50,000 after acquiring an additional 8,519 shares in the last quarter. Abel Hall LLC boosted its holdings in Allogene Therapeutics by 56.4% in the first quarter. Abel Hall LLC now owns 26,647 shares of the company’s stock valued at $65,000 after purchasing an additional 9,604 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in Allogene Therapeutics in the first quarter valued at about $27,000. Finally, Zacks Investment Management boosted its holdings in Allogene Therapeutics by 2.7% in the third quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock valued at $652,000 after purchasing an additional 13,831 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.
Allogene Therapeutics Stock Performance
Shares of ALLO stock opened at $2.00 on Monday. The stock has a market capitalization of $690.31 million, a price-to-earnings ratio of -2.60 and a beta of 0.46. Allogene Therapeutics, Inc. has a one year low of $0.98 and a one year high of $4.46. The company’s 50-day simple moving average is $2.07 and its 200-day simple moving average is $2.05.
Wall Street Analyst Weigh In
Several research firms have issued reports on ALLO. Citigroup restated an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday, April 14th. Citizens Jmp increased their target price on Allogene Therapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 14th. Argus raised their price target on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research report on Tuesday, April 14th. Truist Financial raised shares of Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Robert W. Baird lifted their price target on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.52.
Check Out Our Latest Analysis on ALLO
Allogene Therapeutics Profile
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.
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