Primecap Management Co. CA Cuts Position in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Primecap Management Co. CA reduced its holdings in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 13.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,927,340 shares of the company’s stock after selling 740,920 shares during the period. Primecap Management Co. CA’s holdings in Allogene Therapeutics were worth $10,495,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in 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. Charles Schwab Investment Management Inc. boosted its position in shares of Allogene Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company’s stock worth $2,532,000 after buying an additional 9,990 shares during the period. Zacks Investment Management acquired a new stake in shares of Allogene Therapeutics in the third quarter valued at about $1,446,000. The Manufacturers Life Insurance Company raised its holdings in shares of Allogene Therapeutics by 1.2% during the 3rd 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. Finally, Nordea Investment Management AB lifted its position in Allogene Therapeutics by 2.1% during the 4th quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock worth $986,000 after acquiring an additional 9,635 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Insider Buying and Selling

In other news, CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total transaction of $48,414.22. Following the completion of the sale, the executive vice president now owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,866 shares of company stock worth $194,461 in the last three months. 24.30% of the stock is owned by insiders.

Analyst Ratings Changes

ALLO has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Citizens Jmp raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research report on Friday, March 14th. Finally, HC Wainwright dropped their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.29.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $1.69 on Thursday. Allogene Therapeutics, Inc. has a 1 year low of $1.32 and a 1 year high of $4.63. The firm’s 50-day moving average is $1.91 and its 200-day moving average is $2.30. The company has a market cap of $367.18 million, a P/E ratio of -1.08 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last issued 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. As a group, sell-side analysts predict that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Allogene Therapeutics Company 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).