Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Increases By 10.3%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 30,620,000 shares, an increase of 10.3% from the March 15th total of 27,750,000 shares. Approximately 29.3% of the shares of the stock are sold short. Based on an average daily volume of 2,610,000 shares, the short-interest ratio is currently 11.7 days.

Institutional Investors Weigh In On Allogene Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Allogene Therapeutics by 137.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,337,214 shares of the company’s stock valued at $10,712,000 after buying an additional 1,929,258 shares during the last quarter. American International Group Inc. lifted its position in Allogene Therapeutics by 14.5% during the fourth quarter. American International Group Inc. now owns 46,967 shares of the company’s stock valued at $151,000 after purchasing an additional 5,955 shares during the period. Virtus ETF Advisers LLC lifted its position in Allogene Therapeutics by 72.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 34,163 shares of the company’s stock valued at $110,000 after purchasing an additional 14,328 shares during the period. Voya Investment Management LLC lifted its position in Allogene Therapeutics by 14.5% during the fourth quarter. Voya Investment Management LLC now owns 38,347 shares of the company’s stock valued at $123,000 after purchasing an additional 4,851 shares during the period. Finally, Brevan Howard Capital Management LP lifted its position in Allogene Therapeutics by 433.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 98,120 shares of the company’s stock valued at $315,000 after purchasing an additional 79,743 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Analyst Upgrades and Downgrades

ALLO has been the topic of several analyst reports. Guggenheim cut shares of Allogene Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. cut their price target on shares of Allogene Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of Allogene Therapeutics in a research report on Friday, January 5th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $10.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Allogene Therapeutics Stock Down 0.6 %

Allogene Therapeutics stock traded down $0.02 during mid-day trading on Tuesday, reaching $3.53. The company’s stock had a trading volume of 265,360 shares, compared to its average volume of 2,587,903. The firm’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $3.53. Allogene Therapeutics has a 12-month low of $2.23 and a 12-month high of $6.89.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.04. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.05 million. Allogene Therapeutics had a negative net margin of 202,366.25% and a negative return on equity of 53.76%. On average, analysts predict that Allogene Therapeutics will post -1.69 earnings per share for the current year.

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).