Vanguard Group Inc. Sells 327,007 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Vanguard Group Inc. cut its stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,000,692 shares of the company's stock after selling 327,007 shares during the period. Vanguard Group Inc. owned about 3.82% of Allogene Therapeutics worth $17,041,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cibc World Markets Corp bought a new position in shares of Allogene Therapeutics during the fourth quarter valued at about $26,000. KLP Kapitalforvaltning AS bought a new position in shares of Allogene Therapeutics during the 4th quarter worth approximately $43,000. MML Investors Services LLC purchased a new position in shares of Allogene Therapeutics in the 3rd quarter worth approximately $56,000. Teacher Retirement System of Texas grew its holdings in shares of Allogene Therapeutics by 28.9% in the fourth quarter. Teacher Retirement System of Texas now owns 43,877 shares of the company's stock valued at $93,000 after acquiring an additional 9,839 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Allogene Therapeutics during the fourth quarter valued at approximately $103,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALLO has been the topic of several research analyst reports. HC Wainwright cut their price objective 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 shares of Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 price target for the company in a research report on Friday, March 14th. Royal Bank of Canada restated an "outperform" rating and set a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $14.00 target price on shares of Allogene Therapeutics in a research note 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.29.

Allogene Therapeutics Trading Up 12.0 %

Shares of NASDAQ ALLO traded up $0.17 during mid-day trading on Tuesday, hitting $1.59. The company had a trading volume of 2,323,576 shares, compared to its average volume of 3,213,179. The stock's 50-day moving average price is $1.75 and its 200-day moving average price is $2.08. The company has a market capitalization of $345.45 million, a price-to-earnings ratio of -1.02 and a beta of 0.99. Allogene Therapeutics, Inc. has a 1 year low of $1.23 and a 1 year high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. As a group, equities research analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David D. Chang sold 46,668 shares of the 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 sale, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics stock in a transaction 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. This represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,667 shares of company stock worth $146,047 in the last three months. 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).