Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Expands By 11.0%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) saw 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 company 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.

Institutional Investors Weigh In On Allogene Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Penserra Capital Management LLC purchased a new stake in shares of Allogene Therapeutics in the 1st quarter worth about $66,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $27,000. Great West Life Assurance Co. Can boosted its position in shares of Allogene Therapeutics by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,827 shares of the company’s stock worth $43,000 after buying an additional 1,826 shares in the last quarter. Nordwand Advisors LLC purchased a new stake in shares of Allogene Therapeutics in the 4th quarter worth about $60,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Allogene Therapeutics in the 1st quarter worth about $49,000. 83.63% of the stock is currently owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Down 7.1 %

NASDAQ:ALLO opened at $4.07 on Wednesday. Allogene Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $6.89. The firm’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $3.51. The stock has a market cap of $688.20 million, a PE ratio of -1.95 and a beta of 0.81.

Analyst Upgrades and Downgrades

ALLO has been the topic of several recent research reports. Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Friday, March 15th. Citigroup initiated coverage on shares of Allogene Therapeutics in a research note on Friday, December 8th. They issued a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Allogene Therapeutics in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Allogene Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $13.17.

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 ALL.