Canaccord Genuity Group Reaffirms Buy Rating for Allogene Therapeutics (NASDAQ:ALLO)

Allogene Therapeutics (NASDAQ:ALLO)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a report issued on Friday,Benzinga reports. They currently have a $14.00 target price on the stock. Canaccord Genuity Group’s price target points to a potential upside of 483.33% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Friday, January 9th. UBS Group began coverage on shares of Allogene Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price target for the company. Piper Sandler increased their price target on Allogene Therapeutics from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Friday. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.50.

Allogene Therapeutics Stock Performance

Shares of NASDAQ:ALLO opened at $2.40 on Friday. The stock has a 50-day simple moving average of $1.94 and a 200-day simple moving average of $1.51. The stock has a market capitalization of $539.35 million, a P/E ratio of -2.76 and a beta of 0.50. Allogene Therapeutics has a 1 year low of $0.86 and a 1 year high of $2.80.

Allogene Therapeutics (NASDAQ:ALLO) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.08. Analysts predict that Allogene Therapeutics will post -1.28 earnings per share for the current year.

Insider Activity

In other news, CFO Geoffrey M. Parker sold 24,001 shares of the business’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 approximately $2,204,919.20. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,987 shares of company stock valued at $396,969. 13.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALLO. Primecap Management Co. CA lifted its stake in shares of Allogene Therapeutics by 23.8% in the third quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after acquiring an additional 1,360,168 shares in the last quarter. Aberdeen Group plc boosted its holdings in Allogene Therapeutics by 82.4% in the third quarter. Aberdeen Group plc now owns 1,582,265 shares of the company’s stock valued at $1,962,000 after purchasing an additional 715,015 shares during the last quarter. Patient Square Capital LP grew its stake in Allogene Therapeutics by 11.3% during the 2nd quarter. Patient Square Capital LP now owns 2,635,000 shares of the company’s stock valued at $2,978,000 after purchasing an additional 266,814 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in Allogene Therapeutics during the 3rd quarter valued at approximately $474,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Allogene Therapeutics during the 3rd quarter worth approximately $65,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Allogene Therapeutics News Summary

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

• Positive Sentiment: Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price target (huge upside vs. current levels), which could attract bargain-hunting and institutional interest. Benzinga
• Positive Sentiment: Piper Sandler raised its price target from $7.00 to $8.00 and maintained an “overweight” rating, signaling improved sell-side confidence in ALLO’s commercial/clinical outlook. Benzinga TickerReport
• Positive Sentiment: Q4 results: ALLO reported a narrower-than-expected loss (EPS -$0.17 vs. consensus -$0.25), highlighted expense reductions, and said cash should fund operations into 2028 — all supportive of near-term financial stability and de-risking. Zacks
• Neutral Sentiment: The company filed its full Q4/FY2025 press release and provided a business update detailing pipeline progress and finances; investors can review details for clinical timelines and cash burn assumptions. GlobeNewswire
• Neutral Sentiment: Earnings call transcript published — useful for details on trial milestones, timelines, and management commentary but not new headline news by itself. Seeking Alpha
• Neutral Sentiment: Short-interest notices in the feed report a “significant increase” but show inconsistent/zero values (likely data/reporting noise); monitor filings for any confirmed rise in short interest. (No reliable link available in the report.)

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.