JPMorgan Chase & Co. Reduces Stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

JPMorgan Chase & Co. cut its holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,736,132 shares of the company's stock after selling 351,374 shares during the period. JPMorgan Chase & Co. owned about 1.78% of Allogene Therapeutics worth $7,958,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Allogene Therapeutics by 541.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 46,374 shares of the company's stock valued at $130,000 after buying an additional 39,145 shares during the period. MML Investors Services LLC purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at $56,000. Barclays PLC lifted its holdings in shares of Allogene Therapeutics by 101.5% in the 3rd quarter. Barclays PLC now owns 342,973 shares of the company's stock worth $959,000 after acquiring an additional 172,745 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $9,037,000 after purchasing an additional 407,070 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Allogene Therapeutics by 2.1% during the 4th quarter. Nordea Investment Management AB now owns 460,641 shares of the company's stock valued at $986,000 after purchasing an additional 9,635 shares during the last quarter. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO David D. Chang sold 46,668 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the transaction, the chief executive officer now directly owns 5,276,569 shares of the company's stock, valued at approximately $10,342,075.24. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timothy L. Moore sold 14,746 shares of the company's stock in a transaction 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 sale, the insider now owns 250,713 shares of the company's stock, valued at $428,719.23. This trade represents a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,667 shares of company stock worth $146,047. Corporate insiders own 24.30% of the company's stock.

Allogene Therapeutics Trading Up 12.0 %

Shares of ALLO traded up $0.17 during midday trading on Tuesday, reaching $1.59. 2,323,576 shares of the stock were exchanged, compared to its average volume of 3,213,179. The company's 50 day moving average is $1.75 and its two-hundred day moving average is $2.08. The company has a market capitalization of $345.45 million, a P/E ratio of -1.02 and a beta of 0.99. Allogene Therapeutics, Inc. has a 52 week low of $1.23 and a 52 week high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. On average, sell-side analysts expect that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

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

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).