Allogene Therapeutics, Inc. (NASDAQ:ALLO) Sees Large Increase in Short Interest

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

Analyst Upgrades and Downgrades

ALLO has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Finally, Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

Allogene Therapeutics Trading Down 8.6 %

Shares of NASDAQ ALLO opened at $1.69 on Wednesday. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.63. The firm’s 50-day moving average is $1.92 and its 200-day moving average is $2.30. The firm has a market capitalization of $354.35 million, a PE ratio of -1.08 and a beta of 1.02.

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

Insider Activity at Allogene Therapeutics

In other news, EVP Zachary Roberts sold 27,199 shares of Allogene Therapeutics stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1.78, for a total transaction of $48,414.22. Following the sale, the executive vice president now owns 488,054 shares of the company’s stock, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy L. Moore sold 14,746 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total value of $25,215.66. Following the completion of the transaction, the insider now owns 250,713 shares of the company’s stock, valued at $428,719.23. The trade was a 5.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,866 shares of company stock worth $194,461 over the last three months. Company insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

Institutional investors have recently made changes to their positions in the stock. abrdn plc bought a new position in Allogene Therapeutics during the fourth quarter worth about $776,000. Barclays PLC raised its position in shares of Allogene Therapeutics by 101.5% in 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 period. Zacks Investment Management bought a new position in Allogene Therapeutics during the 3rd quarter worth approximately $1,446,000. Geode Capital Management LLC grew its holdings in Allogene Therapeutics by 14.4% during the third quarter. Geode Capital Management LLC now owns 3,227,104 shares of the company’s stock valued at $9,037,000 after purchasing an additional 407,070 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in Allogene Therapeutics by 788.4% during the fourth quarter. Vontobel Holding Ltd. now owns 195,457 shares of the company’s stock valued at $416,000 after purchasing an additional 173,457 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.

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).