Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Increases By 10.7%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 34,030,000 shares, a growth of 10.7% from the October 15th total of 30,730,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 22.0 days. Currently, 32.2% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, September 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Allogene Therapeutics in a research report on Thursday, August 3rd. Finally, HC Wainwright decreased their price objective on shares of Allogene Therapeutics from $23.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Allogene Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $15.35.

Allogene Therapeutics Trading Up 9.5 %

NASDAQ:ALLO opened at $2.65 on Wednesday. Allogene Therapeutics has a 12 month low of $2.31 and a 12 month high of $11.10. The firm’s 50 day moving average is $3.24 and its 200 day moving average is $4.43. The stock has a market capitalization of $445.94 million, a PE ratio of -1.18 and a beta of 0.83.

Institutional Trading of Allogene Therapeutics

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of Allogene Therapeutics during the 3rd quarter worth $37,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Allogene Therapeutics during the third quarter valued at about $39,000. Great West Life Assurance Co. Can boosted its position in Allogene Therapeutics by 26.1% during the first quarter. Great West Life Assurance Co. Can now owns 8,827 shares of the company’s stock worth $43,000 after purchasing an additional 1,826 shares during the period. Centaurus Financial Inc. purchased a new position in shares of Allogene Therapeutics in the first quarter worth about $49,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Allogene Therapeutics in the third quarter worth about $51,000. 78.51% of the stock is currently owned by institutional investors.

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.