Zacks Investment Management Purchases New Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Zacks Investment Management acquired a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 516,601 shares of the company's stock, valued at approximately $1,446,000. Zacks Investment Management owned approximately 0.25% of Allogene Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Phoenix Wealth Advisors acquired a new stake in Allogene Therapeutics in the 2nd quarter worth approximately $30,000. Nisa Investment Advisors LLC lifted its stake in shares of Allogene Therapeutics by 429.6% during the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company's stock worth $25,000 after buying an additional 8,734 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Allogene Therapeutics by 20.6% during the second quarter. Bank of New York Mellon Corp now owns 362,364 shares of the company's stock valued at $844,000 after buying an additional 61,811 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $52,000. Finally, Rhumbline Advisers raised its stake in Allogene Therapeutics by 8.2% in the 2nd quarter. Rhumbline Advisers now owns 164,508 shares of the company's stock worth $383,000 after acquiring an additional 12,473 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ALLO shares. HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Friday, November 8th. William Blair reiterated an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Finally, Piper Sandler cut their price target on shares of Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.73.

Allogene Therapeutics Stock Down 3.5 %

Shares of NASDAQ ALLO traded down $0.08 during midday trading on Tuesday, reaching $2.19. 1,883,512 shares of the stock were exchanged, compared to its average volume of 2,467,694. The firm has a market cap of $459.18 million, a price-to-earnings ratio of -1.46 and a beta of 0.83. The firm has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $2.59. Allogene Therapeutics, Inc. has a twelve month low of $1.99 and a twelve month 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).