Allogene Therapeutics, Inc. (NASDAQ:ALLO) Short Interest Update

Allogene Therapeutics, Inc. (NASDAQ:ALLO) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 37,040,000 shares, a drop of 5.8% from the October 15th total of 39,320,000 shares. Based on an average trading volume of 1,980,000 shares, the short-interest ratio is presently 18.7 days. Currently, 26.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

ALLO has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Allogene Therapeutics in a research report on Thursday, August 8th. They set an “outperform” rating and a $11.00 price target on the stock. Piper Sandler lowered their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Truist Financial reiterated a “buy” rating and issued a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Canaccord Genuity Group decreased their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $9.73.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA increased its stake in shares of Allogene Therapeutics by 4.1% during the second quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company’s stock worth $13,212,000 after purchasing an additional 221,840 shares during the period. Price T Rowe Associates Inc. MD increased its position in Allogene Therapeutics by 76.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after buying an additional 1,806,147 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after buying an additional 407,070 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Allogene Therapeutics in the second quarter valued at about $6,349,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Allogene Therapeutics by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company’s stock valued at $5,944,000 after acquiring an additional 507,021 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Performance

Shares of ALLO stock opened at $2.12 on Wednesday. Allogene Therapeutics has a 52 week low of $2.01 and a 52 week high of $5.78. The company has a market capitalization of $444.50 million, a price-to-earnings ratio of -1.36 and a beta of 0.84. The company has a 50-day simple moving average of $2.73 and a 200 day simple moving average of $2.64.

Allogene Therapeutics Company Profile

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).