Allogene Therapeutics, Inc. (NASDAQ:ALLO) Short Interest Update

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 37,040,000 shares, a decline of 5.8% from the October 15th total of 39,320,000 shares. Approximately 26.7% of the company’s stock are sold short. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is currently 18.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALLO shares. Piper Sandler lowered their target price on shares of Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday. Canaccord Genuity Group cut their target price on Allogene Therapeutics from $35.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Oppenheimer started coverage on Allogene Therapeutics in a research note on Thursday, August 8th. They set an “outperform” rating and a $11.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Allogene Therapeutics in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.73.

Institutional Trading of Allogene Therapeutics

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Allogene Therapeutics by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 486,023 shares of the company’s stock valued at $1,361,000 after purchasing an additional 5,642 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Allogene Therapeutics by 85.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 17,750 shares of the company’s stock worth $79,000 after buying an additional 8,162 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Allogene Therapeutics by 429.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after acquiring an additional 8,734 shares during the period. Arizona State Retirement System raised its stake in Allogene Therapeutics by 36.1% during the 2nd quarter. Arizona State Retirement System now owns 40,915 shares of the company’s stock valued at $95,000 after acquiring an additional 10,855 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Allogene Therapeutics Trading Down 7.7 %

Shares of ALLO opened at $2.27 on Monday. The company’s 50 day simple moving average is $2.75 and its 200-day simple moving average is $2.65. The firm has a market cap of $475.95 million, a PE ratio of -1.46 and a beta of 0.84. Allogene Therapeutics has a 12-month low of $2.01 and a 12-month high of $5.78.

About Allogene Therapeutics

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).