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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 27,750,000 shares, a growth of 11.0% from the February 29th total of 25,010,000 shares. Currently, 26.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,780,000 shares, the days-to-cover ratio is presently 10.0 days.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $4.47 on Monday. The company has a market capitalization of $755.83 million, a price-to-earnings ratio of -2.14 and a beta of 0.81. Allogene Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $6.89. The stock has a fifty day moving average of $4.44 and a two-hundred day moving average of $3.51.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a research note on Friday, January 5th. JPMorgan Chase & Co. dropped their price objective on Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. 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 15th. Finally, Citigroup began coverage on Allogene Therapeutics in a research report on Friday, December 8th. They set a “buy” rating and a $7.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Allogene Therapeutics by 137.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company’s stock worth $10,712,000 after purchasing an additional 1,929,258 shares in the last quarter. American International Group Inc. lifted its stake in shares of Allogene Therapeutics by 14.5% in the fourth quarter. American International Group Inc. now owns 46,967 shares of the company’s stock worth $151,000 after acquiring an additional 5,955 shares in the last quarter. Virtus ETF Advisers LLC lifted its stake in shares of Allogene Therapeutics by 72.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 34,163 shares of the company’s stock worth $110,000 after acquiring an additional 14,328 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Allogene Therapeutics by 14.5% in the fourth quarter. Voya Investment Management LLC now owns 38,347 shares of the company’s stock worth $123,000 after acquiring an additional 4,851 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in shares of Allogene Therapeutics by 433.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 98,120 shares of the company’s stock worth $315,000 after acquiring an additional 79,743 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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 ALL.