Allogene Therapeutics (NASDAQ:ALLO) Given New $3.85 Price Target at Argus

Allogene Therapeutics (NASDAQ:ALLO) had its target price lifted by Argus from $1.60 to $3.85 in a research report sent to investors on Tuesday,Benzinga reports. Argus currently has a market perform rating on the stock.

ALLO has been the topic of a number of other reports. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 13th. Robert W. Baird raised their price target on Allogene Therapeutics from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial raised Allogene Therapeutics to a “strong-buy” rating in a report on Wednesday, March 25th. Sanford C. Bernstein raised their price target on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday. Finally, Citizens Jmp raised their price target on Allogene Therapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.13.

Allogene Therapeutics Price Performance

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

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. Equities research analysts expect that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Allogene Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALLO. Goldman Sachs Group Inc. grew its holdings in Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock worth $8,547,000 after acquiring an additional 3,747,397 shares during the period. Kalehua Capital Management LLC acquired a new position in shares of Allogene Therapeutics in the 4th quarter valued at $3,488,000. Patient Square Capital LP boosted 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 purchasing an additional 1,982,360 shares during the period. Millennium Management LLC boosted 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 purchasing an additional 1,887,302 shares during the period. Finally, Two Sigma Investments LP boosted 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 purchasing an additional 1,770,419 shares during the period. 83.63% of the stock is owned by institutional investors and hedge funds.

More Allogene Therapeutics News

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

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.