Allogene Therapeutics, Inc. (NASDAQ:ALLO) Short Interest Down 11.1% in November

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 31,170,000 shares, a drop of 11.1% from the November 15th total of 35,050,000 shares. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is presently 13.8 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALLO shares. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Allogene Therapeutics in a research note on Friday, November 8th. Piper Sandler dropped their target price on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Allogene Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $9.73.

Allogene Therapeutics Price Performance

Shares of NASDAQ:ALLO opened at $1.89 on Monday. Allogene Therapeutics has a 1 year low of $1.83 and a 1 year high of $5.78. The firm has a market capitalization of $396.28 million, a P/E ratio of -1.21 and a beta of 0.83. The business’s 50-day moving average is $2.55 and its 200 day moving average is $2.58.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in Allogene Therapeutics by 429.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock worth $25,000 after purchasing an additional 8,734 shares during the period. Federated Hermes Inc. purchased a new position in shares of Allogene Therapeutics during the 2nd quarter valued at approximately $29,000. Private Advisor Group LLC acquired a new position in shares of Allogene Therapeutics in the 3rd quarter valued at $34,000. Algert Global LLC acquired a new stake in Allogene Therapeutics during the second quarter valued at $35,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Allogene Therapeutics during the 2nd quarter worth about $52,000. 83.63% of the stock is owned by institutional investors and hedge funds.

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).