Ghost Tree Capital LLC Buys Shares of 275,000 Allogene Therapeutics, Inc. (NASDAQ:ALLO)

Ghost Tree Capital LLC bought a new stake in Allogene Therapeutics, Inc. (NASDAQ:ALLO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 275,000 shares of the company’s stock, valued at approximately $7,172,000. Allogene Therapeutics accounts for approximately 2.0% of Ghost Tree Capital LLC’s portfolio, making the stock its 15th biggest holding. Ghost Tree Capital LLC owned 0.19% of Allogene Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ALLO. E Fund Management Co. Ltd. acquired a new position in shares of Allogene Therapeutics during the 1st quarter worth $127,000. Ameritas Investment Partners Inc. raised its stake in shares of Allogene Therapeutics by 16.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,332 shares of the company’s stock worth $139,000 after buying an additional 738 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new position in shares of Allogene Therapeutics during the 1st quarter worth $152,000. Great West Life Assurance Co. Can raised its stake in shares of Allogene Therapeutics by 25.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,549 shares of the company’s stock worth $159,000 after buying an additional 935 shares during the last quarter. Finally, AGF Investments Inc. acquired a new position in shares of Allogene Therapeutics during the 2nd quarter worth $192,000. 59.60% of the stock is owned by institutional investors and hedge funds.

In related news, Director Owen N. Witte sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $23.47, for a total transaction of $234,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Veer Bhavnagri sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $21.55, for a total value of $107,750.00. Following the transaction, the general counsel now directly owns 426,353 shares in the company, valued at $9,187,907.15. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $575,150 in the last quarter. Company insiders own 26.30% of the company’s stock.

ALLO has been the subject of several analyst reports. Truist Securities raised shares of Allogene Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $34.00 to $41.00 in a research note on Thursday, May 20th. Truist raised shares of Allogene Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $34.00 to $41.00 in a research note on Thursday, May 20th. Jefferies Financial Group reissued a “buy” rating and issued a $53.00 target price on shares of Allogene Therapeutics in a research note on Thursday, July 1st. B. Riley cut their target price on shares of Allogene Therapeutics from $52.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, August 6th. They noted that the move was a valuation call. Finally, Oppenheimer cut their target price on shares of Allogene Therapeutics from $52.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday, August 5th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $43.60.

ALLO traded up $0.13 during midday trading on Friday, hitting $24.64. The company’s stock had a trading volume of 2,547 shares, compared to its average volume of 646,950. The firm has a 50-day moving average price of $23.25 and a two-hundred day moving average price of $27.74. Allogene Therapeutics, Inc. has a 52-week low of $20.58 and a 52-week high of $44.92.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Tuesday, August 3rd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.02. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.95 million. Equities research analysts anticipate that Allogene Therapeutics, Inc. will post -1.87 earnings per share for the current year.

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.

Further Reading: Cash Asset Ratio

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

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