Tidal Investments LLC Lowers Stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Tidal Investments LLC lessened its stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 39.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 142,747 shares of the company’s stock after selling 93,789 shares during the period. Tidal Investments LLC owned about 0.07% of Allogene Therapeutics worth $400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALLO. Nisa Investment Advisors LLC raised its holdings in shares of Allogene Therapeutics by 429.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after buying an additional 8,734 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Allogene Therapeutics during the third quarter worth about $34,000. Federated Hermes Inc. purchased a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $29,000. Algert Global LLC acquired a new position in shares of Allogene Therapeutics in the second quarter valued at approximately $35,000. Finally, MML Investors Services LLC purchased a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALLO. William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Allogene Therapeutics in a research note on Friday, November 8th. Finally, Piper Sandler reduced their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.73.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO opened at $1.95 on Tuesday. The stock’s 50-day simple moving average is $2.47 and its 200-day simple moving average is $2.56. The firm has a market capitalization of $408.86 million, a PE ratio of -1.25 and a beta of 0.83. Allogene Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $5.78.

About Allogene Therapeutics

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).