Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Holdings in Allogene Therapeutics, Inc. $ALLO

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 47.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,900 shares of the company’s stock after selling 125,165 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.06% of Allogene Therapeutics worth $157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in shares of Allogene Therapeutics by 17.8% in the 1st quarter. Hsbc Holdings PLC now owns 81,435 shares of the company’s stock worth $115,000 after purchasing an additional 12,280 shares in the last quarter. Harold Davidson & Associates Inc. lifted its holdings in shares of Allogene Therapeutics by 8.5% during the first quarter. Harold Davidson & Associates Inc. now owns 252,350 shares of the company’s stock valued at $368,000 after purchasing an additional 19,735 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Allogene Therapeutics during the first quarter valued at $45,000. R Squared Ltd bought a new stake in Allogene Therapeutics in the 2nd quarter worth about $37,000. Finally, Los Angeles Capital Management LLC bought a new stake in Allogene Therapeutics in the 2nd quarter worth about $41,000. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Trading Up 2.5%

ALLO opened at $1.23 on Friday. The company’s 50 day moving average is $1.22 and its 200 day moving average is $1.23. The company has a market cap of $276.42 million, a price-to-earnings ratio of -1.26 and a beta of 0.42. Allogene Therapeutics, Inc. has a 12-month low of $0.86 and a 12-month high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. As a group, analysts predict that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Geoffrey M. Parker sold 36,744 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total value of $46,297.44. Following the transaction, the chief financial officer directly owned 1,276,796 shares of the company’s stock, valued at approximately $1,608,762.96. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a research note on Friday, October 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Allogene Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, October 12th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.44.

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).