33,707 Shares in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Bought by Prelude Capital Management LLC

Posted by Defense World Staff on Mar 14th, 2023

Prelude Capital Management LLC purchased a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 33,707 shares of the company’s stock, valued at approximately $364,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Allogene Therapeutics by 24.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock worth $137,000 after acquiring an additional 3,000 shares in the last quarter. AlphaCrest Capital Management LLC raised its stake in shares of Allogene Therapeutics by 83.4% during the 1st quarter. AlphaCrest Capital Management LLC now owns 49,574 shares of the company’s stock worth $452,000 after buying an additional 22,540 shares during the period. MetLife Investment Management LLC lifted its position in shares of Allogene Therapeutics by 58.6% during the 1st quarter. MetLife Investment Management LLC now owns 36,326 shares of the company’s stock valued at $331,000 after buying an additional 13,419 shares in the last quarter. BlackRock Inc. grew its stake in Allogene Therapeutics by 8.6% in the 1st quarter. BlackRock Inc. now owns 7,086,233 shares of the company’s stock valued at $64,557,000 after acquiring an additional 560,279 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Allogene Therapeutics by 8.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 805,987 shares of the company’s stock worth $7,344,000 after acquiring an additional 61,259 shares in the last quarter. Hedge funds and other institutional investors own 72.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Robert W. Baird upgraded shares of Allogene Therapeutics from a “neutral” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Friday, January 6th. They noted that the move was a valuation call. Oppenheimer decreased their target price on Allogene Therapeutics from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Bank of America cut Allogene Therapeutics from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $24.00 to $9.00 in a research report on Monday, December 12th. Truist Financial decreased their price objective on Allogene Therapeutics from $29.00 to $20.00 in a report on Wednesday, March 1st. Finally, The Goldman Sachs Group dropped their target price on shares of Allogene Therapeutics from $35.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Insider Buying and Selling

In other Allogene Therapeutics news, General Counsel Veer Bhavnagri sold 5,602 shares of Allogene Therapeutics 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 sale, the general counsel now owns 583,677 shares in the company, valued at $4,395,087.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 11,602 shares of company stock worth $83,853. Company insiders own 29.80% of the company’s stock.

Allogene Therapeutics Trading Down 1.4 %

Shares of ALLO opened at $5.62 on Tuesday. Allogene Therapeutics, Inc. has a 12-month low of $5.41 and a 12-month high of $17.49. The firm has a market capitalization of $812.09 million, a P/E ratio of -2.42 and a beta of 0.81. 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 posted its earnings results on Tuesday, February 28th. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.05. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.06 million. Allogene Therapeutics had a negative net margin of 136,885.59% and a negative return on equity of 43.44%. Allogene Therapeutics’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.54) EPS. Equities research analysts predict that Allogene Therapeutics, Inc. will post -2.57 earnings per share for the current fiscal year.

Allogene Therapeutics 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.