Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Rises By 6.7%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 43,280,000 shares, an increase of 6.7% from the May 31st total of 40,570,000 shares. Approximately 31.7% of the company’s shares are short sold. Based on an average daily volume of 2,530,000 shares, the days-to-cover ratio is presently 17.1 days.

Analyst Ratings Changes

Several analysts recently weighed in on ALLO shares. Stifel Nicolaus lifted their price objective on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a report on Tuesday, May 14th. Oppenheimer decreased their price objective on Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. HC Wainwright decreased their price objective on Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Piper Sandler started coverage on Allogene Therapeutics in a report on Friday, May 31st. They issued an “overweight” rating and a $11.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.95.

Insider Transactions at Allogene Therapeutics

In other news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 255,253 shares in the company, valued at $597,292.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Franz B. Humer sold 11,200 shares of Allogene Therapeutics stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $2.34, for a total transaction of $26,208.00. Following the completion of the sale, the director now directly owns 255,253 shares in the company, valued at $597,292.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arie Belldegrun bought 1,724,137 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average price of $2.90 per share, with a total value of $4,999,997.30. Following the completion of the transaction, the director now owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The disclosure for this purchase can be found here. Corporate insiders own 24.30% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Allogene Therapeutics by 41.1% during the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock worth $33,563,000 after acquiring an additional 3,086,311 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Allogene Therapeutics by 76.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock worth $18,675,000 after acquiring an additional 1,806,147 shares during the last quarter. Caxton Associates LP grew its stake in shares of Allogene Therapeutics by 61.4% during the fourth quarter. Caxton Associates LP now owns 775,093 shares of the company’s stock worth $2,488,000 after acquiring an additional 294,989 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $1,661,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $1,284,000. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Price Performance

ALLO opened at $2.16 on Wednesday. The business’s 50-day moving average is $2.61 and its two-hundred day moving average is $3.49. Allogene Therapeutics has a 1 year low of $2.13 and a 1 year high of $6.05. The firm has a market capitalization of $451.44 million, a PE ratio of -1.21 and a beta of 0.86.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Monday, May 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.03. Allogene Therapeutics had a negative return on equity of 50.81% and a negative net margin of 223,139.98%. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.01 million. During the same quarter in the previous year, the firm earned ($0.68) earnings per share. The firm’s quarterly revenue was down 26.7% compared to the same quarter last year. As a group, sell-side analysts expect that Allogene Therapeutics will post -1.5 EPS for the current year.

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).