Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Rises By 16.2%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 39,100,000 shares, an increase of 16.2% from the February 13th total of 33,660,000 shares. Currently, 29.1% of the shares of the company are sold short. Based on an average daily volume of 5,120,000 shares, the days-to-cover ratio is presently 7.6 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALLO shares. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a report on Friday, March 14th. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Finally, HC Wainwright cut their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.29.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO opened at $1.69 on Thursday. Allogene Therapeutics has a 1-year low of $1.32 and a 1-year high of $4.63. The company has a 50-day moving average of $1.91 and a two-hundred day moving average of $2.30. The company has a market cap of $354.35 million, a PE ratio of -1.08 and a beta of 1.02.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. As a group, equities research analysts forecast that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Zachary Roberts sold 27,199 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total value of $48,414.22. Following the sale, the executive vice president now directly owns 488,054 shares in the company, valued at approximately $868,736.12. This represents a 5.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Timothy L. Moore sold 14,746 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $1.71, for a total value of $25,215.66. Following the transaction, the insider now owns 250,713 shares of the company’s stock, valued at $428,719.23. This trade represents a 5.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,866 shares of company stock valued at $194,461 over the last ninety days. 24.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. abrdn plc acquired a new stake in shares of Allogene Therapeutics during the 4th quarter worth approximately $776,000. Barclays PLC raised its position in shares of Allogene Therapeutics by 101.5% during the 3rd quarter. Barclays PLC now owns 342,973 shares of the company’s stock valued at $959,000 after acquiring an additional 172,745 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Allogene Therapeutics in the 3rd quarter valued at $1,446,000. Geode Capital Management LLC boosted its position in shares of Allogene Therapeutics by 14.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock worth $9,037,000 after purchasing an additional 407,070 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock worth $416,000 after purchasing an additional 173,457 shares during the period. Institutional investors own 83.63% of the company’s stock.

About Allogene Therapeutics

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).