Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Position in Allogene Therapeutics, Inc. $ALLO

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 547,189 shares of the company’s stock, valued at approximately $1,138,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Allogene Therapeutics as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in shares of Allogene Therapeutics in the second quarter valued at about $1,513,000. State of Wyoming bought a new stake in shares of Allogene Therapeutics during the second quarter valued at approximately $70,000. GSA Capital Partners LLP acquired a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $594,000. Walleye Capital LLC acquired a new position in Allogene Therapeutics in the second quarter worth about $6,797,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Allogene Therapeutics in the 2nd quarter worth approximately $1,504,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ALLO. Weiss Ratings lowered Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 12th. Citizens Jmp reissued a “market outperform” rating and issued a $6.00 target price on shares of Allogene Therapeutics in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Price Performance

ALLO stock opened at $2.09 on Friday. Allogene Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $4.46. The business has a 50-day moving average of $1.98 and a 200-day moving average of $2.14. The stock has a market capitalization of $722.07 million, a P/E ratio of -3.12 and a beta of 0.48.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. The business had revenue of $4.64 million during the quarter, compared to the consensus estimate of $0.00 million. Equities analysts expect that Allogene Therapeutics, Inc. will post -0.59 EPS for the current year.

Allogene Therapeutics Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.