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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the recipient of a large 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. Currently, 29.1% of the company’s stock are sold short. Based on an average trading volume of 5,120,000 shares, the days-to-cover ratio is presently 7.6 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright lowered their price target on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.29.

Allogene Therapeutics Price Performance

Shares of ALLO opened at $1.69 on Thursday. The company has a market capitalization of $354.35 million, a PE ratio of -1.08 and a beta of 1.02. Allogene Therapeutics has a one year low of $1.32 and a one year high of $4.63. The company’s fifty day moving average price is $1.91 and its 200 day moving average price is $2.30.

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

Insiders Place Their Bets

In other Allogene Therapeutics news, insider Timothy L. Moore sold 14,746 shares of Allogene Therapeutics stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $1.71, for a total transaction of $25,215.66. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $1.96, for a total transaction of $91,469.28. Following the transaction, the chief executive officer now owns 5,276,569 shares in the company, valued at approximately $10,342,075.24. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,866 shares of company stock worth $194,461. 24.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in shares of Allogene Therapeutics in the third quarter worth $116,000. The Manufacturers Life Insurance Company increased its holdings in shares of Allogene Therapeutics by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock worth $1,361,000 after purchasing an additional 5,642 shares during the period. BNP Paribas Financial Markets raised its position in shares of Allogene Therapeutics by 541.5% during the third quarter. BNP Paribas Financial Markets now owns 46,374 shares of the company’s stock valued at $130,000 after buying an additional 39,145 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Allogene Therapeutics in the third quarter valued at about $91,000. Finally, EP Wealth Advisors LLC lifted its stake in shares of Allogene Therapeutics by 125.6% in the third quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company’s stock valued at $69,000 after buying an additional 13,625 shares during the period. 83.63% of the stock is owned by institutional investors.

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).