Allogene Therapeutics, Inc. (NASDAQ:ALLO) Sees Significant Decline in Short Interest

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Get Free Report) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 31,170,000 shares, a decline of 11.1% from the November 15th total of 35,050,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is currently 13.8 days.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently modified their holdings of ALLO. Zacks Investment Management purchased a new position in shares of Allogene Therapeutics in the third quarter worth about $1,446,000. Renaissance Technologies LLC increased its stake in shares of Allogene Therapeutics by 340.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,747,955 shares of the company's stock worth $4,073,000 after acquiring an additional 1,351,055 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allogene Therapeutics by 24.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,550,640 shares of the company's stock valued at $5,944,000 after purchasing an additional 507,021 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Allogene Therapeutics by 70.3% during the second quarter. The Manufacturers Life Insurance Company now owns 480,381 shares of the company's stock valued at $1,119,000 after buying an additional 198,231 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in shares of Allogene Therapeutics by 4.1% in the 2nd quarter. Primecap Management Co. CA now owns 5,670,226 shares of the company's stock worth $13,212,000 after purchasing an additional 221,840 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler reduced their target price on Allogene Therapeutics from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. William Blair restated an "outperform" rating on shares of Allogene Therapeutics in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $9.00 price target on shares of Allogene Therapeutics in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.73.

Allogene Therapeutics Trading Down 6.4 %

NASDAQ ALLO traded down $0.13 during trading hours on Friday, hitting $1.89. The company's stock had a trading volume of 3,524,745 shares, compared to its average volume of 2,472,293. The company has a market capitalization of $396.28 million, a PE ratio of -1.21 and a beta of 0.83. The company's 50-day simple moving average is $2.55 and its two-hundred day simple moving average is $2.58. Allogene Therapeutics has a 52 week low of $1.83 and a 52 week high of $5.78.

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).