Prelude Capital Management LLC Invests $364,000 in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Prelude Capital Management LLC bought a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 33,707 shares of the company’s stock, valued at approximately $364,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in shares of Allogene Therapeutics by 1,255.9% in the second quarter. Woodline Partners LP now owns 5,859,679 shares of the company’s stock valued at $66,800,000 after acquiring an additional 5,427,529 shares during the period. State Street Corp raised its position in Allogene Therapeutics by 78.5% in the 1st quarter. State Street Corp now owns 7,877,648 shares of the company’s stock valued at $71,765,000 after purchasing an additional 3,464,603 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Allogene Therapeutics by 30.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,559,176 shares of the company’s stock worth $63,375,000 after purchasing an additional 1,292,441 shares during the period. Goldman Sachs Group Inc. grew its position in Allogene Therapeutics by 62.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,962,209 shares of the company’s stock worth $26,986,000 after purchasing an additional 1,138,944 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Allogene Therapeutics in the first quarter valued at $8,880,000. Hedge funds and other institutional investors own 72.94% of the company’s stock.

Allogene Therapeutics Stock Down 1.4 %

Shares of NASDAQ ALLO opened at $5.62 on Tuesday. The stock has a market capitalization of $812.09 million, a price-to-earnings ratio of -2.42 and a beta of 0.81. Allogene Therapeutics, Inc. has a 52 week low of $5.41 and a 52 week high of $17.49. The firm has a 50-day moving average price of $6.79 and a 200 day moving average price of $9.13.

Allogene Therapeutics (NASDAQ:ALLO – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.05. Allogene Therapeutics had a negative return on equity of 43.44% and a negative net margin of 136,885.59%. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the company earned ($0.54) EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Equities research analysts expect that Allogene Therapeutics, Inc. will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Veer Bhavnagri sold 5,602 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $7.53, for a total value of $42,183.06. Following the completion of the transaction, the general counsel now owns 583,677 shares in the company, valued at $4,395,087.81. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last ninety days, insiders have sold 11,602 shares of company stock worth $83,853. 29.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALLO shares. Truist Financial decreased their target price on shares of Allogene Therapeutics from $29.00 to $20.00 in a research note on Wednesday, March 1st. JPMorgan Chase & Co. raised Allogene Therapeutics from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $20.00 to $11.00 in a report on Tuesday, January 24th. Oppenheimer decreased their price target on Allogene Therapeutics from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. B. Riley dropped their price objective on shares of Allogene Therapeutics from $18.00 to $15.00 in a research note on Wednesday, March 1st. Finally, JMP Securities reduced their target price on shares of Allogene Therapeutics from $23.00 to $19.00 and set a “market perform” rating for the company in a research note on Thursday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Allogene Therapeutics Company Profile

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Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.