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

Allogene Therapeutics Inc. (NASDAQ:ALLO) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 4,228,891 shares, a growth of 358.5% from the October 15th total of 922,350 shares. Approximately 9.2% of the shares of the company are short sold. Based on an average daily trading volume, of 825,479 shares, the days-to-cover ratio is presently 5.1 days.

A number of equities research analysts have recently weighed in on ALLO shares. Jefferies Financial Group started coverage on shares of Allogene Therapeutics in a report on Monday, November 5th. They set a “buy” rating and a $31.00 price objective on the stock. Cowen started coverage on shares of Allogene Therapeutics in a report on Monday, November 5th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. started coverage on shares of Allogene Therapeutics in a report on Monday, November 5th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Goldman Sachs Group started coverage on shares of Allogene Therapeutics in a report on Monday, November 5th. They set a “buy” rating and a $41.00 price objective on the stock.

NASDAQ:ALLO opened at $30.62 on Friday. Allogene Therapeutics has a one year low of $21.67 and a one year high of $35.55.

In related news, Director Arie Belldegrun acquired 35,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were purchased at an average cost of $18.00 per share, with a total value of $630,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Group Holdings (Sbs) Advis Tpg acquired 675,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $12,150,000.00. The disclosure for this purchase can be found here. Insiders have bought 750,000 shares of company stock worth $13,500,000 over the last three months.

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See Also: Return on Investment (ROI)

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