Allogene Therapeutics, Inc. (NASDAQ:ALLO) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,927,340 shares of the company’s stock after selling 740,920 shares during the period. Primecap Management Co. CA owned about 2.35% of Allogene Therapeutics worth $10,495,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALLO. Cibc World Markets Corp purchased a new stake in Allogene Therapeutics in the 4th quarter valued at approximately $26,000. MML Investors Services LLC purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at approximately $56,000. EP Wealth Advisors LLC grew its holdings in Allogene Therapeutics by 125.6% during the third quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company’s stock worth $69,000 after acquiring an additional 13,625 shares during the period. Erste Asset Management GmbH purchased a new position in Allogene Therapeutics in the third quarter worth $91,000. Finally, Intech Investment Management LLC acquired a new stake in Allogene Therapeutics in the third quarter valued at $116,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allogene Therapeutics

In related news, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total transaction of $25,215.66. Following the completion of the transaction, the insider now owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This represents a 5.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David D. Chang sold 46,668 shares of Allogene Therapeutics 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 completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,866 shares of company stock worth $194,461 over the last quarter. 24.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Citizens Jmp raised 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 research note on Friday, March 14th. Canaccord Genuity Group restated a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, HC Wainwright dropped their price objective on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.29.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $1.69 on Thursday. The stock has a market cap of $367.18 million, a PE ratio of -1.08 and a beta of 1.02. The stock has a 50-day moving average price of $1.91 and a 200 day moving average price of $2.30. Allogene Therapeutics, Inc. has a 52 week low of $1.32 and a 52 week high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. On average, equities analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

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).