Allogene Therapeutics (NASDAQ:ALLO) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) from an underweight rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. UBS Group assumed coverage on shares of Allogene Therapeutics in a research report on Wednesday, January 7th. They issued a “buy” rating and a $8.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 13th. HC Wainwright upped their price target on shares of Allogene Therapeutics from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Sanford C. Bernstein upped 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 report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.44.

Allogene Therapeutics Price Performance

ALLO opened at $2.37 on Thursday. The firm has a market cap of $577.76 million, a P/E ratio of -2.72 and a beta of 0.53. Allogene Therapeutics has a 1-year low of $0.86 and a 1-year high of $4.46. The company has a 50 day simple moving average of $2.33 and a two-hundred day simple moving average of $1.72.

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

Insider Activity at Allogene Therapeutics

In related news, CEO David D. Chang sold 95,269 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.80, for a total transaction of $171,484.20. Following the completion of the transaction, the chief executive officer directly owned 5,185,862 shares of the company’s stock, valued at approximately $9,334,551.60. This trade represents a 1.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Geoffrey M. Parker sold 24,001 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $42,241.76. Following the transaction, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 278,452 shares of company stock valued at $534,053. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Institutional investors have recently bought and sold shares of the stock. Savant Capital LLC purchased a new position in Allogene Therapeutics during the third quarter valued at $27,000. Russell Investments Group Ltd. grew its stake 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 acquiring an additional 21,650 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics during the third quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted 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. Finally, Brighton Jones LLC lifted its position in Allogene Therapeutics by 81.6% during the third 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. 83.63% of the stock is owned by hedge funds and other institutional investors.

Key Headlines 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

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.