Gilead Sciences Inc. Purchases New Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Gilead Sciences Inc. bought a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,156,689 shares of the company's stock, valued at approximately $2,464,000. Allogene Therapeutics makes up about 0.2% of Gilead Sciences Inc.'s holdings, making the stock its 13th biggest position. Gilead Sciences Inc. owned about 0.55% of Allogene Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cibc World Markets Corp acquired a new stake in Allogene Therapeutics during the fourth quarter worth approximately $26,000. PAX Financial Group LLC acquired a new position in Allogene Therapeutics in the fourth quarter valued at about $27,000. RPO LLC acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $31,000. MML Investors Services LLC bought a new position in Allogene Therapeutics in the third quarter valued at approximately $56,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Allogene Therapeutics during the fourth quarter valued at approximately $43,000. Institutional investors own 83.63% of the company's stock.

Insider Activity

In other news, CEO David D. Chang sold 46,668 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the sale, the chief executive officer now owns 5,276,569 shares in the company, valued at $10,342,075.24. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Timothy L. Moore sold 14,746 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the transaction, the insider now owns 250,713 shares in the company, valued at $428,719.23. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,667 shares of company stock worth $146,047 over the last three months. 24.30% of the stock is currently owned by insiders.

Allogene Therapeutics Stock Performance

Shares of ALLO traded up $0.05 during mid-day trading on Wednesday, reaching $1.64. 1,354,671 shares of the company were exchanged, compared to its average volume of 3,206,023. The business has a 50 day simple moving average of $1.75 and a two-hundred day simple moving average of $2.08. Allogene Therapeutics, Inc. has a 52 week low of $1.23 and a 52 week high of $3.78. The stock has a market capitalization of $356.31 million, a PE ratio of -1.05 and a beta of 0.99.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings results 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 predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Analyst Ratings Changes

ALLO has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $10.00 price target on shares of Allogene Therapeutics in a research note on Friday, March 14th. Citizens Jmp upgraded Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a research report on Friday, March 14th. HC Wainwright reduced their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $9.29.

Allogene Therapeutics Company 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).