Allogene Therapeutics (NASDAQ:ALLO) Price Target Raised to $8.00 at Citizens Jmp

Allogene Therapeutics (NASDAQ:ALLO) had its target price hoisted by Citizens Jmp from $5.00 to $8.00 in a research report report published on Tuesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

ALLO has been the subject of a number of other reports. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 13th. UBS Group began coverage on Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target for the company. Robert W. Baird raised their price target on Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, HC Wainwright raised their price target on Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.13.

Allogene Therapeutics Stock Performance

ALLO stock opened at $2.28 on Tuesday. The firm has a fifty day moving average price of $2.31 and a 200 day moving average price of $1.71. Allogene Therapeutics has a fifty-two week low of $0.86 and a fifty-two week high of $4.46. The firm has a market cap of $555.82 million, a PE ratio of -2.62 and a beta of 0.53.

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

Insiders Place Their Bets

In related news, CEO David D. Chang sold 47,763 shares of Allogene Therapeutics stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $2.47, for a total value of $117,974.61. Following the completion of the sale, the chief executive officer directly owned 5,150,599 shares in the company, valued at $12,721,979.53. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Geoffrey M. Parker sold 24,001 shares of Allogene Therapeutics stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $42,241.76. Following the completion of the sale, the chief financial officer owned 1,252,795 shares of the company’s stock, valued at $2,204,919.20. The trade was a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 278,452 shares of company stock valued at $534,053 in the last three months. 13.20% of the stock is owned by company insiders.

Institutional Trading of Allogene Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Allogene Therapeutics by 57.5% in the fourth quarter. Hsbc Holdings PLC now owns 148,136 shares of the company’s stock valued at $199,000 after acquiring an additional 54,071 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allogene Therapeutics by 84.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 44,334 shares of the company’s stock valued at $61,000 after acquiring an additional 20,287 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Allogene Therapeutics by 55.9% in the fourth quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock valued at $58,000 after acquiring an additional 15,178 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Allogene Therapeutics by 16.1% in the fourth quarter. Invesco Ltd. now owns 609,807 shares of the company’s stock valued at $835,000 after acquiring an additional 84,494 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of Allogene Therapeutics by 23.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock valued at $40,000 after acquiring an additional 5,514 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

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

Allogene Therapeutics Company Profile

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.