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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 32,060,091 shares, a growth of 31.3% from the March 15th total of 24,421,757 shares. Based on an average daily volume of 6,667,499 shares, the short-interest ratio is currently 4.8 days. Currently, 15.2% of the company’s shares are short sold.

Allogene Therapeutics Trading Up 9.2%

Shares of ALLO opened at $2.37 on Friday. The firm has a market capitalization of $577.76 million, a P/E ratio of -2.72 and a beta of 0.53. The stock’s fifty day simple moving average is $2.33 and its 200 day simple moving average is $1.72. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $4.46.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.08. Sell-side analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ALLO. Robert W. Baird upped their price objective on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Tuesday. Piper Sandler upped their price target on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Truist Financial raised shares of Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Citigroup reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.44.

Trending Headlines about Allogene Therapeutics

Here are the key news stories impacting Allogene Therapeutics this week:

• Positive Sentiment: HC Wainwright raised quarterly and full‑year EPS forecasts, reiterated a “Buy” rating and a $12 price target — analysts trimmed loss expectations for 2026, signaling improved near‑term operational outlooks. HC Wainwright Research Note
• Positive Sentiment: Jefferies bumped its price target to $10 and kept a Buy rating, and Robert W. Baird raised its target to $9 — multiple broker upgrades lift sentiment and create momentum for upside expectations. Jefferies/Price Target Coverage
• Positive Sentiment: Allogene published preclinical data for ALLO‑329 in Nature Communications (dual CD19/CD70 allogeneic CAR‑T for autoimmune disease), a validation point for pipeline breadth outside oncology that can support longer‑term value. ALLO-329 Nature Communications Publication
• Neutral Sentiment: High volume of investor call purchases reported recently, indicating speculative/leveraged bullish interest that can amplify moves but is not a guarantee of fundamental improvement. Options Volume Report
• Negative Sentiment: Allogene closed an underwritten offering that raised ~$200.4M (87.5M shares at $2.00 plus option exercise). While the proceeds extend runway for trials and R&D, the large issuance is dilutive and has been cited as the catalyst for recent selloffs. Offering Closing Press Release
• Negative Sentiment: Unusual put-option activity and reports that the stock fell sharply after the equity raise indicate some investors are hedging or taking bearish positions tied to dilution and execution risk. Market Reaction to Equity Raise

Insider Buying and Selling at Allogene Therapeutics

In related news, CFO Geoffrey M. Parker sold 24,001 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the transaction, the chief financial officer directly owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David D. Chang sold 47,763 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $2.47, for a total value of $117,974.61. Following the completion of the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at approximately $12,721,979.53. This represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 278,452 shares of company stock worth $534,053 over the last ninety days. Company insiders own 13.20% of the company’s stock.

Institutional Investors Weigh In On Allogene Therapeutics

A number of hedge funds have recently bought and sold shares of ALLO. Savant Capital LLC acquired a new stake in Allogene Therapeutics during the 3rd quarter valued at approximately $27,000. Russell Investments Group Ltd. increased its stake in shares of Allogene Therapeutics by 11,159.8% in the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after buying an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of Allogene Therapeutics by 5,267.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock worth $30,000 after buying an additional 23,599 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics during the 3rd quarter worth approximately $30,000. Finally, Brighton Jones LLC grew its position in shares of Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after buying an additional 11,311 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Company Profile

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.