Cornercap Investment Counsel Inc. Buys New Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Cornercap Investment Counsel Inc. purchased a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 60,634 shares of the company’s stock, valued at approximately $195,000.

Several other large investors also recently made changes to their positions in ALLO. Oppenheimer & Co. Inc. boosted its holdings in Allogene Therapeutics by 24.9% during the first quarter. Oppenheimer & Co. Inc. now owns 15,050 shares of the company’s stock worth $137,000 after buying an additional 3,000 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in shares of Allogene Therapeutics by 83.4% during the first quarter. AlphaCrest Capital Management LLC now owns 49,574 shares of the company’s stock valued at $452,000 after purchasing an additional 22,540 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Allogene Therapeutics by 58.6% in the 1st quarter. MetLife Investment Management LLC now owns 36,326 shares of the company’s stock valued at $331,000 after purchasing an additional 13,419 shares during the period. BlackRock Inc. increased its stake in Allogene Therapeutics by 8.6% in the 1st quarter. BlackRock Inc. now owns 7,086,233 shares of the company’s stock worth $64,557,000 after purchasing an additional 560,279 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Allogene Therapeutics by 8.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 805,987 shares of the company’s stock worth $7,344,000 after buying an additional 61,259 shares during the period. Institutional investors own 83.63% of the company’s stock.

Wall Street Analyst Weigh In

ALLO has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a report on Tuesday, March 19th. Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 15th. JPMorgan Chase & Co. dropped their price target on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Finally, JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.94.

Allogene Therapeutics Stock Performance

ALLO opened at $3.51 on Thursday. The stock has a 50-day moving average of $4.53 and a 200-day moving average of $3.54. Allogene Therapeutics, Inc. has a 52-week low of $2.23 and a 52-week high of $6.89. The company has a market cap of $593.51 million, a PE ratio of -1.68 and a beta of 0.81.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.04. Allogene Therapeutics had a negative return on equity of 53.76% and a negative net margin of 202,366.25%. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. On average, research analysts predict that Allogene Therapeutics, Inc. will post -1.69 earnings per share for the current year.

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).