Allogene Therapeutics Inc (NASDAQ:ALLO) Short Interest Up 8.1% in May

Allogene Therapeutics Inc (NASDAQ:ALLO) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 11,010,200 shares, a growth of 8.1% from the April 30th total of 10,183,200 shares. Approximately 34.0% of the company’s stock are sold short. Based on an average daily volume of 498,700 shares, the short-interest ratio is currently 22.1 days.

Shares of ALLO traded down $0.21 during trading hours on Friday, reaching $26.40. 320,634 shares of the stock traded hands, compared to its average volume of 517,616. The company has a debt-to-equity ratio of 0.05, a quick ratio of 17.48 and a current ratio of 17.48. Allogene Therapeutics has a 52-week low of $21.67 and a 52-week high of $35.55. The company’s 50-day simple moving average is $26.99. The company has a market capitalization of $3.23 billion and a P/E ratio of -4.01.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Tuesday, May 7th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.08. Equities research analysts expect that Allogene Therapeutics will post -1.94 earnings per share for the current fiscal year.

In other Allogene Therapeutics news, major shareholder Group Holdings (Sbs) Advis Tpg sold 1,918,755 shares of Allogene Therapeutics stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $29.38, for a total value of $56,373,021.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alison Moore sold 48,828 shares of Allogene Therapeutics stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $26.76, for a total transaction of $1,306,637.28. The disclosure for this sale can be found here. 36.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. VV Manager LLC bought a new stake in Allogene Therapeutics in the 4th quarter valued at $206,853,000. FMR LLC increased its holdings in Allogene Therapeutics by 26.3% in the 1st quarter. FMR LLC now owns 6,200,543 shares of the company’s stock valued at $178,313,000 after acquiring an additional 1,289,556 shares during the last quarter. BlackRock Inc. bought a new stake in Allogene Therapeutics in the 4th quarter valued at $56,011,000. Perceptive Advisors LLC bought a new stake in Allogene Therapeutics in the 4th quarter valued at $41,574,000. Finally, venBio Select Advisor LLC bought a new stake in Allogene Therapeutics in the 4th quarter valued at $27,753,000. Institutional investors own 53.47% of the company’s stock.

ALLO has been the topic of several analyst reports. Roth Capital initiated coverage on shares of Allogene Therapeutics in a research note on Wednesday, June 5th. They set a “neutral” rating and a $26.00 price target on the stock. Stifel Nicolaus set a $154.00 price target on shares of argenx and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Guggenheim reiterated a “hold” rating on shares of Burlington Stores in a research note on Thursday, May 30th. William Blair reiterated a “buy” rating on shares of Allogene Therapeutics in a research note on Monday, April 15th. Finally, Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $35.44.

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. The company is developing UCART19, an allogeneic chimeric antigen receptor (CAR) T cell product candidate, which is in Phase I clinical trials for the treatment of pediatric and adult patients with R/R CD19 positive B-cell ALL; and ALLO-501, an allogeneic CAR T cell product candidate targeting CD19 to treat R/R non-Hodgkin lymphoma.

Read More: Cost of Capital Explained

Receive News & Ratings for Allogene Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allogene Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.