Allogene Therapeutics (NASDAQ:ALLO) Hits New 1-Year High Following Analyst Upgrade

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price hit a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $6.00 to $10.00. Jefferies Financial Group currently has a buy rating on the stock. Allogene Therapeutics traded as high as $4.46 and last traded at $3.0390, with a volume of 87442890 shares. The stock had previously closed at $2.72.

ALLO has been the subject of a number of other research reports. Sanford C. Bernstein lifted their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 13th. Wall Street Zen raised shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. HC Wainwright lifted their price target on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Argus lifted their price target on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.44.

Insiders Place Their Bets

In related news, CFO Geoffrey M. Parker sold 24,001 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total transaction of $42,241.76. Following the completion of the transaction, the chief financial officer owned 1,252,795 shares in the company, valued at $2,204,919.20. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David D. Chang sold 95,269 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.80, for a total value of $171,484.20. Following the transaction, the chief executive officer owned 5,185,862 shares of the company’s stock, valued at approximately $9,334,551.60. The trade was a 1.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 278,452 shares of company stock worth $534,053 in the last 90 days. 13.20% of the stock is owned by insiders.

Key Headlines Impacting Allogene Therapeutics

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

• Positive Sentiment: Nature Communications published pre‑clinical data on ALLO‑329 (a dual CD19/CD70 AlloCAR‑T for autoimmune disease), validating pipeline progress and supporting longer‑term value of non‑oncology programs. Article Link
• Positive Sentiment: Early ALPHA3 data (cema‑cel) showed strong MRD clearance in first‑line LBCL, a clinically meaningful signal that boosted investor optimism about near‑term commercialization or partnership potential. Article Link
• Positive Sentiment: Analyst bullishness is increasing — Jefferies raised its price target to $10 and set a Buy, joining several other recent upgrades and higher targets that support upside expectations. Article Link
• Positive Sentiment: Unusually high call‑option activity suggests speculative bullish positioning or hedging tied to the recent clinical/upgrade news. Article Link
• Neutral Sentiment: Multiple firms adjusted price targets upward (Baird, Citizens, Argus, etc.), increasing analyst attention but with a wide range of targets (near‑term execution risk remains).
• Neutral Sentiment: Company commentary and coverage include discussion of an interim futility analysis from the pivotal Phase II ALPHA3 trial; such analyses can move markets depending on final interpretation but are informational until formal readouts. Article Link
• Negative Sentiment: Allogene priced a large public offering of 87.5M shares at $2.00 (≈$175M gross) with an underwriter option for more — immediate dilution and press for the stock at a low price is the main headwind weighing on the share price. Article Link
• Negative Sentiment: Unusual put buying (4,437 put contracts, ~356% above normal daily put volume) points to hedging or bearish bets by some traders, adding downside pressure/volatility.
• Negative Sentiment: Recent insider selling (multiple exec sales noted in public filings) and mixed institutional repositioning can amplify negative sentiment around the offering and near‑term funding needs.

Institutional Investors Weigh In On Allogene Therapeutics

Several large investors have recently added to or reduced their stakes in ALLO. AQR Capital Management LLC purchased a new stake in Allogene Therapeutics in the 1st quarter valued at about $85,000. Goldman Sachs Group Inc. boosted its position in 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 buying an additional 3,747,397 shares during the period. Jane Street Group LLC boosted its position in Allogene Therapeutics by 578.7% in the 1st quarter. Jane Street Group LLC now owns 1,116,681 shares of the company’s stock valued at $1,630,000 after buying an additional 952,158 shares during the period. Geode Capital Management LLC boosted its position in Allogene Therapeutics by 13.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company’s stock valued at $4,289,000 after buying an additional 435,389 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Allogene Therapeutics by 14.0% in the 2nd quarter. Rhumbline Advisers now owns 209,336 shares of the company’s stock worth $237,000 after buying an additional 25,628 shares during the period. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics Stock Performance

The firm has a market capitalization of $529.00 million, a PE ratio of -2.49 and a beta of 0.53. The company has a fifty day simple moving average of $2.31 and a two-hundred day simple moving average of $1.72.

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

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.