Mirae Asset Global Investments Co. Ltd. Sells 233,013 Shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Mirae Asset Global Investments Co. Ltd. reduced its position in Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 54.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 195,480 shares of the company’s stock after selling 233,013 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.12% of Allogene Therapeutics worth $627,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Allogene Therapeutics by 41.1% during the 3rd quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after purchasing an additional 3,086,311 shares during the last quarter. Caxton Associates LP grew its position in Allogene Therapeutics by 590.0% during the 3rd quarter. Caxton Associates LP now owns 480,104 shares of the company’s stock worth $1,522,000 after purchasing an additional 410,520 shares during the last quarter. FMR LLC grew its position in Allogene Therapeutics by 0.9% during the 3rd quarter. FMR LLC now owns 25,143,931 shares of the company’s stock worth $79,706,000 after purchasing an additional 225,976 shares during the last quarter. Barclays PLC grew its position in Allogene Therapeutics by 17.6% during the 3rd quarter. Barclays PLC now owns 786,793 shares of the company’s stock worth $2,495,000 after purchasing an additional 117,596 shares during the last quarter. Finally, Citigroup Inc. grew its position in Allogene Therapeutics by 20.4% during the 3rd quarter. Citigroup Inc. now owns 338,756 shares of the company’s stock worth $1,074,000 after purchasing an additional 57,392 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.

Allogene Therapeutics Price Performance

ALLO opened at $2.86 on Friday. The firm has a fifty day moving average price of $4.40 and a 200 day moving average price of $3.55. Allogene Therapeutics, Inc. has a 1 year low of $2.23 and a 1 year high of $6.89. The stock has a market cap of $482.76 million, a P/E ratio of -1.37 and a beta of 0.81.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.04. Allogene Therapeutics had a negative net margin of 202,366.25% and a negative return on equity of 53.76%. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.05 million. Equities analysts expect that Allogene Therapeutics, Inc. will post -1.69 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on ALLO. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. JPMorgan Chase & Co. decreased their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Royal Bank of Canada restated an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 15th. Finally, JMP Securities restated a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.94.

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).