abrdn plc Makes New Investment in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

abrdn plc bought a new stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 364,382 shares of the company's stock, valued at approximately $776,000. abrdn plc owned approximately 0.17% of Allogene Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALLO. Zacks Investment Management bought a new stake in shares of Allogene Therapeutics during the 3rd quarter valued at about $1,446,000. Geode Capital Management LLC boosted its position in shares of Allogene Therapeutics by 14.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company's stock valued at $9,037,000 after purchasing an additional 407,070 shares in the last quarter. Barclays PLC boosted its position in shares of Allogene Therapeutics by 101.5% during the 3rd quarter. Barclays PLC now owns 342,973 shares of the company's stock valued at $959,000 after purchasing an additional 172,745 shares in the last quarter. Curi RMB Capital LLC boosted its position in shares of Allogene Therapeutics by 47.5% during the 3rd quarter. Curi RMB Capital LLC now owns 149,577 shares of the company's stock valued at $419,000 after purchasing an additional 48,202 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Allogene Therapeutics in the third quarter worth approximately $116,000. Institutional investors own 83.63% of the company's stock.

Allogene Therapeutics Price Performance

Shares of ALLO stock traded up $0.63 during trading hours on Friday, reaching $2.04. The company had a trading volume of 42,406,034 shares, compared to its average volume of 4,084,165. Allogene Therapeutics, Inc. has a 12 month low of $1.32 and a 12 month high of $5.78. The business has a fifty day simple moving average of $1.94 and a 200-day simple moving average of $2.38. The company has a market cap of $427.73 million, a price-to-earnings ratio of -1.31 and a beta of 0.83.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALLO. HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Allogene Therapeutics in a report on Friday, November 8th. Piper Sandler cut their price target on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. Finally, William Blair reiterated an "outperform" rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.73.

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 stock was sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the sale, the executive vice president now directly owns 488,054 shares of the company's stock, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the sale, the insider now directly owns 250,713 shares of the company's stock, valued at $428,719.23. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,067 shares of company stock worth $131,959 over the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

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).