Allogene Therapeutics, Inc. (NASDAQ:ALLO) Short Interest Up 16.2% in February

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 39,100,000 shares, a growth of 16.2% from the February 13th total of 33,660,000 shares. Currently, 29.1% of the company’s stock are sold short. Based on an average trading volume of 5,120,000 shares, the short-interest ratio is currently 7.6 days.

Allogene Therapeutics Stock Performance

Shares of ALLO opened at $1.63 on Friday. The stock has a 50-day simple moving average of $1.89 and a 200-day simple moving average of $2.29. The stock has a market capitalization of $354.14 million, a PE ratio of -1.04 and a beta of 1.02. Allogene Therapeutics has a 1 year low of $1.32 and a 1 year high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last posted its earnings results on Thursday, March 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. Analysts predict that Allogene Therapeutics will post -1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

ALLO has been the subject of several recent research reports. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective for the company in a research note on Friday, March 14th. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Finally, HC Wainwright dropped their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.29.

Insider Transactions at Allogene Therapeutics

In other Allogene Therapeutics news, EVP Zachary Roberts sold 27,199 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 approximately $868,736.12. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David D. Chang sold 46,668 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1.96, for a total value of $91,469.28. Following the completion of the transaction, the chief executive officer now directly owns 5,276,569 shares of the company’s stock, valued at $10,342,075.24. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,866 shares of company stock worth $194,461. Insiders own 24.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALLO. The Manufacturers Life Insurance Company increased its holdings in shares of Allogene Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock valued at $1,361,000 after purchasing an additional 5,642 shares during the period. California State Teachers Retirement System boosted its position in Allogene Therapeutics by 6.0% during the fourth quarter. California State Teachers Retirement System now owns 135,554 shares of the company’s stock worth $289,000 after purchasing an additional 7,685 shares in the last quarter. Invesco Ltd. boosted its position in Allogene Therapeutics by 7.0% during the fourth quarter. Invesco Ltd. now owns 127,486 shares of the company’s stock worth $272,000 after purchasing an additional 8,359 shares in the last quarter. ProShare Advisors LLC boosted its position in Allogene Therapeutics by 25.6% during the fourth quarter. ProShare Advisors LLC now owns 46,082 shares of the company’s stock worth $98,000 after purchasing an additional 9,388 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Allogene Therapeutics by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 460,641 shares of the company’s stock valued at $986,000 after acquiring an additional 9,635 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).