Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Allogene Therapeutics, Inc. $ALLO

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 547,189 shares of the company’s stock, valued at approximately $1,138,000.

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Allogene Therapeutics during the second quarter worth approximately $1,513,000. State of Wyoming acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth $70,000. GSA Capital Partners LLP bought a new position in shares of Allogene Therapeutics in the second quarter worth about $594,000. Walleye Capital LLC bought a new position in Allogene Therapeutics in the 2nd quarter valued at approximately $6,797,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Allogene Therapeutics in the 2nd quarter valued at $1,504,000. 83.63% of the stock is owned by institutional investors.

Allogene Therapeutics Trading Down 0.5%

ALLO opened at $2.09 on Friday. Allogene Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $4.46. The company has a market cap of $722.07 million, a price-to-earnings ratio of -3.12 and a beta of 0.48. The company’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $2.14.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALLO. Weiss Ratings lowered shares of Allogene Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 12th. Citizens Jmp reissued a “market outperform” rating and issued a $6.00 price objective 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 given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Company 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.