Allogene Therapeutics, Inc. (NASDAQ:ALLO) Sees Large Growth in Short Interest

Allogene Therapeutics, Inc. (NASDAQ:ALLO) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 40,570,000 shares, an increase of 11.4% from the May 15th total of 36,430,000 shares. Based on an average daily volume of 2,510,000 shares, the short-interest ratio is presently 16.2 days. Currently, 33.5% of the company’s shares are short sold.

Insider Transactions at Allogene Therapeutics

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

Hedge Funds Weigh In On Allogene Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new position in Allogene Therapeutics in the third quarter valued at $37,000. Swiss National Bank raised its holdings in shares of Allogene Therapeutics by 3.0% during the 3rd quarter. Swiss National Bank now owns 192,400 shares of the company’s stock valued at $610,000 after buying an additional 5,600 shares in the last quarter. Citigroup Inc. boosted its stake in Allogene Therapeutics by 20.4% in the third quarter. Citigroup Inc. now owns 338,756 shares of the company’s stock worth $1,074,000 after buying an additional 57,392 shares in the last quarter. Rafferty Asset Management LLC grew its position in Allogene Therapeutics by 2.2% during the third quarter. Rafferty Asset Management LLC now owns 904,403 shares of the company’s stock valued at $2,867,000 after acquiring an additional 19,832 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Allogene Therapeutics by 0.9% during the third quarter. FMR LLC now owns 25,143,931 shares of the company’s stock worth $79,706,000 after acquiring an additional 225,976 shares in the last quarter. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Trading Down 2.1 %

ALLO opened at $2.30 on Tuesday. The firm has a 50-day moving average price of $2.89 and a 200-day moving average price of $3.50. Allogene Therapeutics has a twelve month low of $2.23 and a twelve month high of $6.05.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.01 million. During the same period last year, the company earned ($0.68) earnings per share. The business’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities research analysts anticipate that Allogene Therapeutics will post -1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALLO. Oppenheimer lowered their price objective on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. Piper Sandler initiated coverage on Allogene Therapeutics in a research note on Friday, May 31st. They issued an “overweight” rating and a $11.00 target price for the company. HC Wainwright cut their price target on Allogene Therapeutics from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Truist Financial reissued a “buy” rating and issued a $17.00 price target on shares of Allogene Therapeutics in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.95.

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).