Allogene Therapeutics, Inc. (NASDAQ:ALLO) Short Interest Up 7.6% in May

Allogene Therapeutics, Inc. (NASDAQ:ALLOGet Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 36,430,000 shares, an increase of 7.6% from the April 30th total of 33,870,000 shares. Currently, 30.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,320,000 shares, the days-to-cover ratio is presently 15.7 days.

Insiders Place Their Bets

In other news, Director Arie Belldegrun acquired 1,724,137 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average price of $2.90 per share, for a total transaction of $4,999,997.30. Following the completion of the acquisition, the director now owns 1,724,137 shares of the company’s stock, valued at approximately $4,999,997.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.30% of the company’s stock.

Institutional Trading of Allogene Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ALLO. FMR LLC grew its holdings in Allogene Therapeutics by 0.9% during the 3rd 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 during the last quarter. Vanguard Group Inc. increased its holdings in shares of Allogene Therapeutics by 41.1% in the third quarter. Vanguard Group Inc. now owns 10,587,804 shares of the company’s stock valued at $33,563,000 after purchasing an additional 3,086,311 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Allogene Therapeutics by 76.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,177,619 shares of the company’s stock valued at $18,675,000 after purchasing an additional 1,806,147 shares in the last quarter. Rafferty Asset Management LLC raised its position in Allogene Therapeutics by 2.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 904,403 shares of the company’s stock worth $2,867,000 after purchasing an additional 19,832 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Allogene Therapeutics by 17.6% during the 3rd quarter. Barclays PLC now owns 786,793 shares of the company’s stock worth $2,495,000 after buying an additional 117,596 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Allogene Therapeutics Stock Up 1.6 %

Shares of ALLO stock opened at $2.50 on Friday. The company has a market capitalization of $427.13 million, a P/E ratio of -1.40 and a beta of 0.90. Allogene Therapeutics has a 12-month low of $2.23 and a 12-month high of $6.05. The firm has a 50-day moving average price of $3.28 and a 200 day moving average price of $3.52.

Allogene Therapeutics (NASDAQ:ALLOGet Free Report) last announced its earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate 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 business had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.01 million. During the same period in the previous year, the business earned ($0.68) EPS. Allogene Therapeutics’s revenue was down 26.7% compared to the same quarter last year. As a group, research analysts expect that Allogene Therapeutics will post -1.56 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ALLO. Piper Sandler initiated coverage on shares of Allogene Therapeutics in a report on Friday. They set an “overweight” rating and a $11.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $17.00 price objective on shares of Allogene Therapeutics in a research note on Wednesday, May 15th. Stifel Nicolaus increased their price objective on Allogene Therapeutics from $4.40 to $4.60 and gave the company a “hold” rating in a research report on Tuesday, May 14th. Oppenheimer dropped their price objective on shares of Allogene Therapeutics from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.95.

Check Out Our Latest Stock Report on Allogene Therapeutics

About Allogene Therapeutics

(Get Free Report)

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).

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