Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Declines By 5.8%

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 37,040,000 shares, a decline of 5.8% from the October 15th total of 39,320,000 shares. Currently, 26.7% of the company's stock are sold short. Based on an average daily trading volume, of 1,980,000 shares, the days-to-cover ratio is currently 18.7 days.

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds have recently made changes to their positions in ALLO. Geode Capital Management LLC increased its position in shares of Allogene Therapeutics by 14.4% during 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 in the last quarter. Barclays PLC increased its holdings in shares of Allogene Therapeutics by 101.5% during the third quarter. Barclays PLC now owns 342,973 shares of the company's stock worth $959,000 after buying an additional 172,745 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Allogene Therapeutics in the third quarter valued at approximately $56,000. Zacks Investment Management bought a new position in shares of Allogene Therapeutics in the third quarter valued at approximately $1,446,000. Finally, EP Wealth Advisors LLC grew its position in Allogene Therapeutics by 125.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 24,475 shares of the company's stock worth $69,000 after acquiring an additional 13,625 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALLO shares. William Blair reaffirmed an "outperform" rating on shares of Allogene Therapeutics in a research report on Thursday. Canaccord Genuity Group reduced their price objective on shares of Allogene Therapeutics from $35.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Piper Sandler lowered their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday. Truist Financial reiterated a "buy" rating and set a $14.00 price target (down previously from $17.00) on shares of Allogene Therapeutics in a research note on Friday, August 9th. Finally, Oppenheimer assumed coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They issued an "outperform" rating and a $11.00 price objective on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Allogene Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $9.73.

Allogene Therapeutics Price Performance

ALLO stock traded down $0.12 on Monday, reaching $2.15. 2,916,935 shares of the company were exchanged, compared to its average volume of 2,468,976. The firm has a market capitalization of $450.79 million, a PE ratio of -1.38 and a beta of 0.84. Allogene Therapeutics has a 12 month low of $2.01 and a 12 month high of $5.78. The stock's fifty day moving average price is $2.74 and its 200 day moving average price is $2.65.

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).