Fidelity Management & Research Co recently announced the acquisition of new stake in Allogene Therapeutics Inc (NASDAQ:ALLO). The institutional investor has increased its shareholding in the Healthcare company by 0.91% to 25.14 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 14.94% valued currently at $59.09 million. In addition, The Vanguard Group, Inc. raised its holdings by 3.09 million to 10.45 million shares. And BlackRock Fund Advisors has lifted its position by 7.67% or 0.51 million shares – to 7.21 million shares.
Currently, there are 144.44M common shares owned by the public and among those 105.96M shares have been available to trade.
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Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 6,486,902 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 106,198 shares.
The top 3 mutual fund holders in Allogene Therapeutics Inc are SPDR S&P Biotech ETF, Fidelity Select Port. – Health Ca, and Vanguard Total Stock Market ETF. SPDR S&P Biotech ETF owns 6.9 million shares of the company’s stock, all valued at over $16.21 million. The company bought an additional 32160.0 shares recently to bring their total holdings to about 4.10% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.30% of the shares outstanding.
The company’s stock has a 5-day price change of 26.69% and -20.69% over the past three months. ALLO shares are trading -52.46% year to date (YTD), with the 12-month market performance down to -56.73% lower. It has a 12-month low price of $2.23 and touched a high of $8.44 over the same period. ALLO has an average intraday trading volume of 2.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.16%, 7.64%, and -31.57% respectively.
Institutional ownership of Allogene Therapeutics Inc (NASDAQ: ALLO) shares accounts for 65.86% of the company’s 144.44M shares outstanding. Mutual fund holders own 41.80%, while other institutional holders and individual stakeholders account for 46.47% and 24.51% respectively.
It has a market capitalization of $503.16M and a beta (3y monthly) value of 0.73. The earnings-per-share (ttm) stands at -$2.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.66% over the week and 9.85% over the month.
Analysts forecast that Allogene Therapeutics Inc (ALLO) will achieve an EPS of -$0.46 for the current quarter, -$0.46 for the next quarter and -$1.83 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.62 while analysts give the company a high EPS estimate of -$0.34. Comparatively, EPS for the current quarter was -$0.66 a year ago. Earnings per share for the fiscal year are expected to increase by 13.60%, and 10.48% over the next financial year.
Looking at the support for the ALLO, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $7.
