Gilead Sciences Inc. Buys Shares of 1,156,689 Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Gilead Sciences Inc. acquired a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,156,689 shares of the company’s stock, valued at approximately $2,464,000. Allogene Therapeutics comprises 0.2% of Gilead Sciences Inc.’s portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Allogene Therapeutics by 7.0% in the fourth quarter. Invesco Ltd. now owns 127,486 shares of the company’s stock worth $272,000 after purchasing an additional 8,359 shares during the period. Nordea Investment Management AB grew its stake in Allogene Therapeutics by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock worth $986,000 after buying an additional 9,635 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Allogene Therapeutics by 28.9% in the 4th quarter. Teacher Retirement System of Texas now owns 43,877 shares of the company’s stock valued at $93,000 after buying an additional 9,839 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Allogene Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,188,838 shares of the company’s stock valued at $2,532,000 after buying an additional 9,990 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $26,000. 83.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.96, for a total value of $91,469.28. Following the sale, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Timothy L. Moore sold 14,746 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the sale, the insider now directly owns 250,713 shares of the company’s stock, valued at approximately $428,719.23. The trade was a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,866 shares of company stock worth $194,461 over the last three months. Company insiders own 24.30% of the company’s stock.

Allogene Therapeutics Trading Up 3.6 %

NASDAQ:ALLO opened at $1.45 on Friday. The stock’s 50-day moving average is $1.74 and its 200-day moving average is $2.10. Allogene Therapeutics, Inc. has a 1-year low of $1.23 and a 1-year high of $3.78. The stock has a market cap of $315.03 million, a P/E ratio of -0.93 and a beta of 0.99.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. As a group, equities analysts forecast that Allogene Therapeutics, Inc. will post -1.28 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. HC Wainwright decreased their price target on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.29.

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).