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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the recipient of a significant growth in short interest in 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. Based on an average daily trading volume, of 5,120,000 shares, the days-to-cover ratio is presently 7.6 days. Currently, 29.1% of the company’s shares are short sold.

Allogene Therapeutics Stock Down 3.6 %

Shares of Allogene Therapeutics stock opened at $1.63 on Friday. The stock has a market cap of $354.14 million, a PE ratio of -1.04 and a beta of 1.02. The business has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $2.29. Allogene Therapeutics has a 12 month low of $1.32 and a 12 month high of $4.63.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. Analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, CEO David D. Chang sold 46,668 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $1.96, for a total transaction of $91,469.28. Following the completion of the sale, the chief executive officer now directly owns 5,276,569 shares in the company, valued at $10,342,075.24. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Zachary Roberts sold 27,199 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1.78, for a total value of $48,414.22. Following the sale, the executive vice president now owns 488,054 shares of the company’s stock, valued at approximately $868,736.12. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,866 shares of company stock worth $194,461. 24.30% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALLO. Lynx1 Capital Management LP increased its stake in Allogene Therapeutics by 75.3% during the fourth quarter. Lynx1 Capital Management LP now owns 10,874,723 shares of the company’s stock valued at $23,163,000 after acquiring an additional 4,672,349 shares during the period. Foresite Capital Management VI LLC acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $7,345,000. Patient Square Capital LP acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $3,174,000. Gilead Sciences Inc. acquired a new stake in Allogene Therapeutics during the fourth quarter valued at approximately $2,464,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Allogene Therapeutics by 30.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,561,626 shares of the company’s stock valued at $7,586,000 after purchasing an additional 831,146 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ALLO shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 14th. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Friday, March 14th. HC Wainwright lowered their target price on Allogene Therapeutics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $10.00 target price on shares of Allogene Therapeutics in a research report on Friday, March 14th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.29.

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 acute lymphoblastic leukemia (ALL).