Cibc World Markets Corp Takes Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Cibc World Markets Corp bought a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,013 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors have also recently made changes to their positions in the business. MML Investors Services LLC bought a new stake in Allogene Therapeutics in the third quarter valued at $56,000. EP Wealth Advisors LLC lifted its position in shares of Allogene Therapeutics by 125.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company’s stock worth $69,000 after purchasing an additional 13,625 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Allogene Therapeutics during the 3rd quarter valued at about $91,000. Intech Investment Management LLC purchased a new position in shares of Allogene Therapeutics during the third quarter valued at about $116,000. Finally, BNP Paribas Financial Markets raised its stake in Allogene Therapeutics by 541.5% in the third quarter. BNP Paribas Financial Markets now owns 46,374 shares of the company’s stock worth $130,000 after buying an additional 39,145 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ALLO. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. HC Wainwright dropped their price target on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Citizens Jmp upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $10.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.29.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO opened at $1.55 on Friday. The firm’s 50 day moving average price is $1.86 and its 200-day moving average price is $2.25. Allogene Therapeutics, Inc. has a 52-week low of $1.32 and a 52-week high of $4.45. The company has a market cap of $336.76 million, a PE ratio of -0.99 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last released 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, analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the transaction, the executive vice president now owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction of $25,215.66. Following the completion of the sale, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,866 shares of company stock valued at $194,461 over the last ninety days. 24.30% of the stock is currently owned by corporate insiders.

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).