Allogene Therapeutics (NASDAQ:ALLO) Price Target Raised to $9.00 at Robert W. Baird

Allogene Therapeutics (NASDAQ:ALLO) had its price target increased by Robert W. Baird from $7.00 to $9.00 in a report published on Tuesday morning, Marketbeat Ratings reports. Robert W. Baird currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup reaffirmed an “outperform” rating on shares of Allogene Therapeutics in a research note on Tuesday. UBS Group began coverage on shares of Allogene Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target for the company. Jefferies Financial Group began coverage on shares of Allogene Therapeutics in a research note on Friday, April 10th. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright raised 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, Truist Financial raised shares of Allogene Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.13.

Allogene Therapeutics Stock Down 25.5%

Shares of ALLO opened at $2.28 on Tuesday. The stock has a market capitalization of $555.82 million, a P/E ratio of -2.62 and a beta of 0.53. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $4.46. The company has a 50 day moving average of $2.31 and a 200-day moving average of $1.71.

Allogene Therapeutics (NASDAQ:ALLO) last issued its quarterly 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, sell-side analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Allogene Therapeutics news, CEO David D. Chang sold 47,763 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $2.47, for a total transaction of $117,974.61. Following the completion of the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. This trade represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Zachary Roberts sold 35,700 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were 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 $1,028,663.82. This represents a 5.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 278,452 shares of company stock worth $534,053. 13.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Savant Capital LLC acquired a new stake in Allogene Therapeutics during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. lifted its holdings in Allogene Therapeutics by 11,159.8% during the 3rd 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 lifted its holdings in Allogene Therapeutics by 5,267.6% during the 3rd 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 acquired a new stake in Allogene Therapeutics during the 3rd quarter valued at $30,000. Finally, Brighton Jones LLC lifted its holdings in Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares during the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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.