Bank of America Corp DE Reduces Stock Position in Allogene Therapeutics Inc (NASDAQ:ALLO)

Bank of America Corp DE reduced its position in shares of Allogene Therapeutics Inc (NASDAQ:ALLO) by 25.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,988 shares of the company’s stock after selling 23,954 shares during the period. Bank of America Corp DE owned 0.06% of Allogene Therapeutics worth $1,907,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in Allogene Therapeutics by 0.4% in the first quarter. First Trust Advisors LP now owns 101,816 shares of the company’s stock worth $2,944,000 after buying an additional 375 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Allogene Therapeutics in the second quarter worth about $65,000. Bainco International Investors lifted its holdings in Allogene Therapeutics by 0.7% in the second quarter. Bainco International Investors now owns 355,913 shares of the company’s stock worth $9,556,000 after buying an additional 2,500 shares during the period. Bank of Montreal Can purchased a new stake in Allogene Therapeutics in the second quarter worth about $87,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in Allogene Therapeutics in the second quarter worth about $92,000. Institutional investors own 54.49% of the company’s stock.

In other Allogene Therapeutics news, insider Alison Moore sold 48,827 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $29.44, for a total transaction of $1,437,466.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 36.50% of the stock is currently owned by company insiders.

Several analysts have commented on ALLO shares. JPMorgan Chase & Co. restated a “hold” rating and issued a $29.00 price objective on shares of Allogene Therapeutics in a report on Sunday, August 11th. BTIG Research started coverage on shares of Allogene Therapeutics in a report on Friday, August 9th. They issued a “buy” rating and a $37.00 price objective for the company. Zacks Investment Research lowered shares of Allogene Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, William Blair restated a “buy” rating on shares of Allogene Therapeutics in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Allogene Therapeutics currently has an average rating of “Buy” and a consensus price target of $36.10.

Shares of NASDAQ ALLO opened at $27.96 on Wednesday. Allogene Therapeutics Inc has a fifty-two week low of $22.20 and a fifty-two week high of $35.55. The company has a 50 day simple moving average of $28.18 and a two-hundred day simple moving average of $27.94. The company has a market capitalization of $3.43 billion and a price-to-earnings ratio of -4.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.46 and a current ratio of 13.46.

Allogene Therapeutics (NASDAQ:ALLO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.06. On average, analysts forecast that Allogene Therapeutics Inc will post -1.94 earnings per share for the current fiscal 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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

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Institutional Ownership by Quarter for Allogene Therapeutics (NASDAQ:ALLO)

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