Pier Capital LLC Grows Stock Holdings in Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Pier Capital LLC increased its stake in shares of Allogene Therapeutics, Inc. (NASDAQ:ALLO) by 61.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 450,182 shares of the company’s stock after buying an additional 171,354 shares during the quarter. Pier Capital LLC owned about 0.32% of Allogene Therapeutics worth $11,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALLO. Lazard Asset Management LLC purchased a new position in shares of Allogene Therapeutics during the second quarter worth about $48,000. Advisory Services Network LLC acquired a new stake in Allogene Therapeutics in the second quarter valued at about $102,000. FORA Capital LLC acquired a new stake in Allogene Therapeutics in the second quarter valued at about $107,000. Amundi acquired a new stake in Allogene Therapeutics in the second quarter valued at about $132,000. Finally, AGF Investments Inc. acquired a new stake in Allogene Therapeutics in the second quarter valued at about $192,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Arie Belldegrun acquired 155,039 shares of the business’s stock in a transaction on Wednesday, January 12th. The shares were purchased at an average price of $12.60 per share, for a total transaction of $1,953,491.40. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 26.30% of the company’s stock.

Allogene Therapeutics stock traded up $0.51 during trading on Friday, reaching $12.47. 37,998 shares of the company’s stock were exchanged, compared to its average volume of 1,492,110. The company’s 50-day moving average is $16.67 and its two-hundred day moving average is $20.36. Allogene Therapeutics, Inc. has a 52-week low of $11.54 and a 52-week high of $39.12. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -6.61 and a beta of 0.71.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings results on Thursday, November 4th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.01). The company had revenue of $0.05 million for the quarter. During the same quarter in the previous year, the business posted ($0.52) earnings per share. As a group, research analysts anticipate that Allogene Therapeutics, Inc. will post -1.98 EPS for the current fiscal year.

A number of research firms have recently issued reports on ALLO. Cowen started coverage on shares of Allogene Therapeutics in a research report on Wednesday, October 20th. They set an “outperform” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Allogene Therapeutics in a research note on Friday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of Allogene Therapeutics in a research note on Tuesday. Roth Capital lowered their target price on shares of Allogene Therapeutics from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, October 8th. Finally, Bank of America lowered their target price on shares of Allogene Therapeutics from $41.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $35.40.

Allogene Therapeutics Profile

Allogene Therapeutics, Inc operates as a clinical stage immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The firm develops a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.

See Also: Investing in Growth Stocks

Want to see what other hedge funds are holding ALLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allogene Therapeutics, Inc. (NASDAQ:ALLO).

Institutional Ownership by Quarter for Allogene Therapeutics (NASDAQ:ALLO)

Receive News & Ratings for Allogene Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allogene Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.