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

Allogene Therapeutics, Inc. (NASDAQ:ALLO) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 32,060,091 shares, an increase of 31.3% from the March 15th total of 24,421,757 shares. Based on an average trading volume of 6,667,499 shares, the days-to-cover ratio is currently 4.8 days. Approximately 15.2% of the shares of the stock are short sold.

Insider Activity at Allogene Therapeutics

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 24,001 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $42,241.76. Following the sale, the chief financial officer owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David D. Chang sold 47,763 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $2.47, for a total transaction of $117,974.61. Following the sale, the chief executive officer directly owned 5,150,599 shares in the company, valued at approximately $12,721,979.53. This represents a 0.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 278,452 shares of company stock worth $534,053 in the last quarter. Insiders own 13.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Allogene Therapeutics by 177.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after acquiring an additional 3,747,397 shares during the period. Kalehua Capital Management LLC acquired a new stake in shares of Allogene Therapeutics in the 4th quarter valued at approximately $3,488,000. Patient Square Capital LP raised its position in shares of Allogene Therapeutics by 66.5% in the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock valued at $6,800,000 after acquiring an additional 1,982,360 shares during the period. Millennium Management LLC raised its position in shares of Allogene Therapeutics by 125.6% in the 3rd quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock valued at $4,204,000 after acquiring an additional 1,887,302 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Allogene Therapeutics by 109.7% in the 3rd quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after acquiring an additional 1,770,419 shares during the period. Institutional investors own 83.63% of the company’s stock.

Key Stories Impacting Allogene Therapeutics

Here are the key news stories impacting Allogene Therapeutics this week:

• Positive Sentiment: Interim ALPHA3 results showed a 58.3% MRD clearance rate with cemacabtagene ansegedleucel (cema-cel) versus 16.7% in observation, rapid ctDNA declines, and generally favorable safety (no CRS, ICANS, GvHD, or treatment-related SAEs reported). This clinical readout is the main driver of the early rally, signaling potential in first-line LBCL consolidation. ALPHA3 Press Release
• Positive Sentiment: Broad media and analyst attention amplified the move — outlets highlighted the potential paradigm shift for an off‑the‑shelf CAR‑T and unusual bullish options activity, indicating speculative/hedged buying interest ahead of the offering and additional readouts. FierceBiotech Coverage
• Positive Sentiment: Multiple analysts raised price targets and reiterated positive ratings (Robert W. Baird, Citizens JMP, Argus, Jefferies), boosting investor confidence and supporting upside expectations. Analyst Coverage
• Neutral Sentiment: Trading was temporarily halted early on April 13 for a pending news release; the company also scheduled a conference call/webcast to discuss the ALPHA3 interim analysis — events that typically increase intraday volatility but provide additional detail for investors. (See ALPHA3 press release above.)
• Negative Sentiment: Allogene announced a proposed underwritten public offering of $175 million of common stock (with underwriter option up to $26.25M), which raises near-term financing/dilution risk and pressured the stock after the initial rally. This financing announcement is the primary reason for the subsequent sell‑off. Offering Filing
• Negative Sentiment: Market coverage noted shares sliding on the offering announcement and listed ALLO among premarket decliners, reinforcing the short‑term negative sentiment tied to dilution and supply increase. MarketWatch: Offering Reaction

Allogene Therapeutics Trading Down 25.5%

Shares of NASDAQ ALLO opened at $2.28 on Wednesday. The firm has a market capitalization of $555.82 million, a PE ratio of -2.62 and a beta of 0.53. Allogene Therapeutics has a 1 year low of $0.86 and a 1 year high of $4.46. The firm’s 50-day moving average is $2.31 and its 200-day moving average is $1.71.

Allogene Therapeutics (NASDAQ:ALLO) last issued its earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.08. As a group, equities research analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALLO shares. Argus increased their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 13th. HC Wainwright increased their price objective on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler raised their target price on shares of Allogene Therapeutics from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Robert W. Baird raised their target price on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.13.

About Allogene Therapeutics

Allogene Therapeutics is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” chimeric antigen receptor T-cell (CAR T) therapies to treat a range of hematologic malignancies and solid tumors. The company leverages gene-editing technologies to generate universally compatible engineered T cells, aiming to overcome the limitations of patient-specific CAR T approaches such as manufacturing delays, variable product quality and treatment resistance.

The company’s pipeline includes multiple allogeneic CAR T candidates targeting key antigens in blood cancers.