Is allo will go up?

**Allogene Therapeutics, Inc. (ALLO) does not appear to be heading for a significant upward trend in the near term**, based on the following analysis:

1. **Recent Stock Performance**: The closing price of ALLO on July 25, 2024, was $2.91, with no change in the percentage change from the previous day. This lack of movement suggests a period of consolidation rather than a forthcoming increase.

2. **Analyst Ratings and Price Targets**: Despite a consensus rating of "Moderate Buy" from analysts, the average one-year price target among analysts that have covered the stock in the last year is $9.95, which is significantly higher than the current price. This indicates that analysts expect the stock to increase in value, but not necessarily in the immediate future.
3. **Financial Results and Business Updates**: Recent financial results show the company reporting a loss per share (EPS) of ($0.38), which is better than the consensus estimate of ($0.41), but also highlights ongoing losses. Additionally, the company's quarterly revenue was down 26.7% year-over-year, which could signal underlying challenges that may not immediately lead to a stock price increase.
4. **Market Sentiment and Insider Activity**: The stock has seen a moderate increase in short interest, with 43,280,000 shares sold short as of June 15, 2024. This could indicate some skepticism among investors or simply hedging by short sellers, but it doesn't typically drive a stock price up on its own.
5. **Strategic Developments**: Allogene Therapeutics has been involved in various strategic collaborations and partnerships, which could be beneficial for long-term growth but may not have an immediate impact on the stock price.

In conclusion, while there is potential for growth based on analyst price targets, the current stock performance, financial results, and market sentiment do not strongly suggest an imminent upward trend. Investors should consider the long-term prospects of the company, including the potential for new drug approvals and market penetration, alongside the analyst expectations and the broader market conditions.