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

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) was the recipient of a significant increase in short interest in 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 stock are short sold. Based on an average trading volume of 5,120,000 shares, the days-to-cover ratio is currently 7.6 days.

Insiders Place Their Bets

In other news, insider Timothy L. Moore sold 14,746 shares of the company'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 completion of the transaction, the insider now owns 250,713 shares of the company's stock, valued at $428,719.23. This represents a 5.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the completion of the transaction, the executive vice president now directly owns 488,054 shares of the company's stock, valued at $868,736.12. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,866 shares of company stock valued at $194,461. 24.30% of the stock is currently owned by corporate insiders.

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Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cibc World Markets Corp bought a new position in shares of Allogene Therapeutics in the 4th quarter worth $26,000. PAX Financial Group LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter worth $27,000. RPO LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter worth $31,000. Caption Management LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter worth $32,000. Finally, Syon Capital LLC bought a new position in shares of Allogene Therapeutics in the 4th quarter worth $39,000. 83.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALLO has been the subject of several recent research reports. 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. HC Wainwright reduced their target price on Allogene Therapeutics from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday. Citizens Jmp upgraded Allogene Therapeutics from a "market perform" rating to an "outperform" rating and set a $5.00 target price on the stock in a report on Friday, March 14th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.29.

Allogene Therapeutics Stock Performance

Shares of Allogene Therapeutics stock traded down $0.01 on Friday, reaching $1.62. 10,012,923 shares of the company's stock were exchanged, compared to its average volume of 3,100,964. The company has a market capitalization of $351.97 million, a P/E ratio of -1.04 and a beta of 1.02. Allogene Therapeutics has a 52 week low of $1.32 and a 52 week high of $4.63. The firm's 50-day moving average is $1.89 and its two-hundred day moving average is $2.28.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.06. On average, analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

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).