abrdn plc Buys New Shares in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

abrdn plc purchased a new position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 4th quarter, Holdings Channel reports. The firm purchased 364,382 shares of the company’s stock, valued at approximately $776,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Allogene Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock valued at $1,361,000 after buying an additional 5,642 shares during the period. Nordea Investment Management AB raised its holdings in Allogene Therapeutics by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock valued at $986,000 after acquiring an additional 9,635 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Allogene Therapeutics in the 3rd quarter worth approximately $34,000. Exchange Traded Concepts LLC grew its holdings in shares of Allogene Therapeutics by 25.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 60,675 shares of the company’s stock worth $170,000 after purchasing an additional 12,328 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Allogene Therapeutics by 125.6% during the third quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company’s stock valued at $69,000 after purchasing an additional 13,625 shares during the period. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Down 2.0 %

Shares of NASDAQ ALLO opened at $1.48 on Tuesday. The company has a market cap of $310.31 million, a price-to-earnings ratio of -0.95 and a beta of 0.83. Allogene Therapeutics, Inc. has a 12-month low of $1.47 and a 12-month high of $5.78. The firm’s 50-day simple moving average is $1.99 and its 200 day simple moving average is $2.41.

Insider Transactions at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 27,199 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the transaction, the executive vice president now directly owns 488,054 shares in the company, valued at $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total transaction 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. Over the last three months, insiders have sold 71,067 shares of company stock worth $131,959. Corporate insiders own 24.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Allogene Therapeutics in a research note on Friday, November 8th. Piper Sandler cut their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $9.73.

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).