Allogene Therapeutics (NASDAQ:ALLO) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Jefferies Financial Group upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

ALLO has been the topic of a number of other reports. Robert W. Baird increased their target price on Allogene Therapeutics from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Sanford C. Bernstein increased their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the stock a “market perform” rating in a report on Tuesday. Citizens Jmp increased their target price on Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Piper Sandler increased their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.13.

Allogene Therapeutics Stock Performance

Allogene Therapeutics stock opened at $2.28 on Monday. The stock has a market capitalization of $555.82 million, a price-to-earnings ratio of -2.62 and a beta of 0.53. Allogene Therapeutics has a 52-week low of $0.86 and a 52-week high of $4.46. The stock’s 50 day moving average price is $2.31 and its two-hundred day moving average price is $1.71.

Allogene Therapeutics (NASDAQ:ALLO) last posted 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 research analysts forecast that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling

In other Allogene Therapeutics news, SVP Earl Martin Douglas sold 22,900 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total transaction of $40,304.00. Following the transaction, the senior vice president directly owned 564,948 shares in the company, valued at approximately $994,308.48. This trade represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the executive vice president owned 581,166 shares in the company, valued at approximately $1,028,663.82. This trade represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 278,452 shares of company stock valued at $534,053 in the last 90 days. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

Large investors have recently bought and sold shares of the stock. Savant Capital LLC bought a new position in Allogene Therapeutics during the 3rd quarter valued at $27,000. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 21,650 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Allogene Therapeutics during the 3rd quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted its stake 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 acquiring an additional 23,599 shares in the last quarter. Finally, Brighton Jones LLC lifted its stake 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 acquiring an additional 11,311 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

Key Allogene Therapeutics News

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

• Positive Sentiment: ALLO reported a positive interim futility analysis from the pivotal Phase II ALPHA3 trial — cemacabtagene ansegedleucel (cema?cel) showed 58.3% MRD clearance vs. 16.7% in observation, rapid ctDNA reductions, and a favorable safety profile. This clinical readout is the main catalyst for the stock’s initial upside as it materially de?risks the LBCL program and supports future regulatory / commercial value. ALPHA3 Press Release
• Positive Sentiment: Several sell?side firms raised price targets and ratings after the data (notably Baird, Citizens/JMP and others), which can support renewed institutional interest and provide technical buying. Analyst Moves
• Positive Sentiment: Unusual options activity — elevated call buying volume was reported, indicating speculative/leveraged bullish positioning from some traders following the data release. This can amplify intraday volatility to the upside. Options Flow Report
• Neutral Sentiment: Institutional/hedge?fund positioning appears mixed (some managers adding, others trimming). That suggests divergent views among longer?term holders — important for medium?term liquidity but ambiguous for immediate direction. (Quiver/filings summaries)
• Negative Sentiment: Allogene priced an underwritten public offering of 87.5M shares at $2.00 to raise ~$175M (with a 30?day option for +13.125M shares). While proceeds will fund trials and R&D, the large size and low per?share price create meaningful near?term dilution pressure and triggered selling pressure after the pricing. Offering Prospectus
• Negative Sentiment: Trading was temporarily halted around the announcement and the shares moved lower in pre?market / early trading following the offering news — typical for sizable equity raises that dilute existing holders. Relevant market commentary flagged the slide. MarketWatch Offering Reaction
• Negative Sentiment: Recent insider disclosures show only sales and no insider buys in the last six months, which investors often view as a mild negative signal on management’s near?term conviction. (Quiver summarized insider activity)

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.