Allogene Therapeutics (NASDAQ:ALLO) Price Target Raised to $9.00
by Danessa Lincoln · The Markets DailyAllogene Therapeutics (NASDAQ:ALLO – Free Report) had its price target upped by Robert W. Baird from $7.00 to $9.00 in a report published on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.
Other analysts have also recently issued reports about the company. UBS Group assumed coverage on Allogene Therapeutics in a research note on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target for the company. Truist Financial upgraded shares of Allogene Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. HC Wainwright upped their target price on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup reiterated an “outperform” rating on shares of Allogene Therapeutics in a report on Tuesday. Finally, Wall Street Zen raised shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.44.
View Our Latest Stock Analysis on ALLO
Allogene Therapeutics Stock Up 9.2%
NASDAQ:ALLO opened at $2.37 on Tuesday. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $4.46. The stock’s fifty day simple moving average is $2.33 and its 200-day simple moving average is $1.72. The firm has a market capitalization of $577.76 million, a P/E ratio of -2.72 and a beta of 0.53.
Allogene Therapeutics (NASDAQ:ALLO – Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.08. As a group, equities research analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current year.
Insiders Place Their Bets
In related news, CEO David D. Chang sold 95,269 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total value of $171,484.20. Following the completion of the transaction, the chief executive officer directly owned 5,185,862 shares in the company, valued at approximately $9,334,551.60. The trade was a 1.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zachary Roberts sold 35,700 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $1.77, for a total value of $63,189.00. Following the sale, the executive vice president directly owned 581,166 shares of the company’s stock, valued at approximately $1,028,663.82. The trade was a 5.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 278,452 shares of company stock worth $534,053. Company insiders own 13.20% of the company’s stock.
Institutional Investors Weigh In On Allogene Therapeutics
Several large investors have recently made changes to their positions in the stock. Savant Capital LLC acquired a new stake in shares of Allogene Therapeutics in the third quarter valued at about $27,000. Russell Investments Group Ltd. boosted its position in Allogene Therapeutics by 11,159.8% during the third quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock valued at $27,000 after purchasing an additional 21,650 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Allogene Therapeutics by 5,267.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics in the third quarter valued at approximately $30,000. Finally, Brighton Jones LLC increased its position in shares of Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares during the last quarter. 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: HC Wainwright raised quarterly and full‑year EPS forecasts, reiterated a “Buy” rating and a $12 price target — analysts trimmed loss expectations for 2026, signaling improved near‑term operational outlooks. HC Wainwright Research Note
- Positive Sentiment: Jefferies bumped its price target to $10 and kept a Buy rating, and Robert W. Baird raised its target to $9 — multiple broker upgrades lift sentiment and create momentum for upside expectations. Jefferies/Price Target Coverage
- Positive Sentiment: Allogene published preclinical data for ALLO‑329 in Nature Communications (dual CD19/CD70 allogeneic CAR‑T for autoimmune disease), a validation point for pipeline breadth outside oncology that can support longer‑term value. ALLO-329 Nature Communications Publication
- Neutral Sentiment: High volume of investor call purchases reported recently, indicating speculative/leveraged bullish interest that can amplify moves but is not a guarantee of fundamental improvement. Options Volume Report
- Negative Sentiment: Allogene closed an underwritten offering that raised ~$200.4M (87.5M shares at $2.00 plus option exercise). While the proceeds extend runway for trials and R&D, the large issuance is dilutive and has been cited as the catalyst for recent selloffs. Offering Closing Press Release
- Negative Sentiment: Unusual put-option activity and reports that the stock fell sharply after the equity raise indicate some investors are hedging or taking bearish positions tied to dilution and execution risk. Market Reaction to Equity Raise
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.