Short Interest in Allogene Therapeutics, Inc. (NASDAQ:ALLO) Declines By 11.1%

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 31,170,000 shares, a drop of 11.1% from the November 15th total of 35,050,000 shares. Based on an average trading volume of 2,260,000 shares, the days-to-cover ratio is presently 13.8 days.

Allogene Therapeutics Stock Performance

Shares of NASDAQ ALLO opened at $1.89 on Friday. Allogene Therapeutics has a fifty-two week low of $1.83 and a fifty-two week high of $5.78. The company has a market cap of $396.28 million, a PE ratio of -1.21 and a beta of 0.83. The business has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $2.58.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALLO. Piper Sandler lowered their price target on Allogene Therapeutics from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Allogene Therapeutics in a report on Friday, November 8th. Finally, William Blair reissued an “outperform” rating on shares of Allogene Therapeutics in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.73.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in Allogene Therapeutics by 429.6% in the second quarter. Nisa Investment Advisors LLC now owns 10,767 shares of the company’s stock valued at $25,000 after purchasing an additional 8,734 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Allogene Therapeutics by 20.6% in the second quarter. Bank of New York Mellon Corp now owns 362,364 shares of the company’s stock worth $844,000 after buying an additional 61,811 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Allogene Therapeutics during the second quarter worth about $52,000. Rhumbline Advisers raised its position in Allogene Therapeutics by 8.2% during the second quarter. Rhumbline Advisers now owns 164,508 shares of the company’s stock valued at $383,000 after acquiring an additional 12,473 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Allogene Therapeutics by 82.7% in the second quarter. TD Asset Management Inc now owns 799,340 shares of the company’s stock valued at $1,862,000 after acquiring an additional 361,904 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

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).