BNP Paribas Financial Markets Acquires 803,284 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

BNP Paribas Financial Markets boosted its holdings in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 1,732.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 849,658 shares of the company’s stock after buying an additional 803,284 shares during the quarter. BNP Paribas Financial Markets’ holdings in Allogene Therapeutics were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cibc World Markets Corp bought a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $26,000. PAX Financial Group LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $27,000. RPO LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $31,000. Syon Capital LLC bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $39,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Allogene Therapeutics in the fourth quarter worth about $43,000. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $1.11 on Friday. The firm has a fifty day moving average price of $1.48 and a 200 day moving average price of $1.91. Allogene Therapeutics, Inc. has a fifty-two week low of $0.86 and a fifty-two week high of $3.78. The firm has a market cap of $242.76 million, a price-to-earnings ratio of -0.71 and a beta of 0.60.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Tuesday, May 13th. The company reported ($0.28) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.28). As a group, research analysts predict that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $91,469.28. Following the completion of the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 61,757 shares of company stock worth $115,873. 13.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ALLO. Citizens Jmp downgraded Allogene Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Allogene Therapeutics from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial reduced their price objective on shares of Allogene Therapeutics from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday. Oppenheimer reduced their price objective on shares of Allogene Therapeutics from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Robert W. Baird reduced their price objective on shares of Allogene Therapeutics from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.44.

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).