Allogene Therapeutics (NASDAQ:ALLO) Trading Up 13.1% Following Analyst Upgrade

Allogene Therapeutics, Inc. (NASDAQ:ALLO)’s share price rose 13.1% during mid-day trading on Thursday after JPMorgan Chase & Co. upgraded the stock from an underweight rating to a neutral rating. The company traded as high as $2.45 and last traded at $2.4550. Approximately 4,605,023 shares were traded during trading, a decline of 45% from the average daily volume of 8,351,732 shares. The stock had previously closed at $2.17.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein boosted 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 note on Tuesday. UBS Group initiated coverage on shares of Allogene Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $8.00 target price on 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. HC Wainwright upped their target price 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, Citizens Jmp upped their target price on shares of Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.44.

Insider Buying and Selling at Allogene Therapeutics

In other Allogene Therapeutics news, CEO David D. Chang sold 47,763 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $2.47, for a total value of $117,974.61. Following the sale, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zachary Roberts sold 35,700 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.77, for a total transaction of $63,189.00. Following the completion of the sale, the executive vice president directly owned 581,166 shares in the company, valued at $1,028,663.82. This trade represents a 5.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 278,452 shares of company stock worth $534,053 over the last ninety days. 13.20% of the stock is currently owned by company insiders.

Allogene Therapeutics News Roundup

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

• Positive Sentiment: HC Wainwright raised Q1–Q4 and FY2026 EPS forecasts (narrowing losses) and reiterated a Buy rating with a $12 price target, signaling improved near?term financial expectations. HC Wainwright note
• Positive Sentiment: Multiple brokerages raised price targets/ratings this week (Jefferies to $10 Buy, Baird to $9, Citizens to $8, Argus to $3.85), reflecting renewed analyst conviction after recent data. Broker reactions
• Positive Sentiment: Publication of pre?clinical ALLO?329 data in Nature Communications provides scientific validation for a next?generation allogeneic CAR?T program targeting autoimmune disease, which is a longer?term pipeline positive. ALLO?329 publication
• Neutral Sentiment: Unusual options flow: heavy call buying and a large block of put purchases were both reported this week — signals of mixed short?term positioning and higher volatility. Options activity
• Positive Sentiment: JPMorgan upgraded ALLO from Underweight to Neutral, removing a prior negative stance and reducing sell?side downside pressure. JPMorgan upgrade
• Negative Sentiment: Allogene priced an underwritten offering of 87.5M shares at $2.00 to raise ~$175M (with a 30?day overallotment option). The size and low price of the deal are dilutive and are the primary driver of the share decline today. Offering press release
• Negative Sentiment: Market reports tie the equity raise to a sharp intraday drop (coverage noted ~13% decline after the equity raise), underscoring investor concern about dilution despite pipeline positives. Market reaction

Institutional Trading of Allogene Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Savant Capital LLC purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at about $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Allogene Therapeutics by 11,159.8% in the third 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Allogene Therapeutics by 5,267.6% in 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 in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Allogene Therapeutics in the third quarter valued at about $30,000. Finally, Brighton Jones LLC lifted its stake in shares of 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 buying an additional 11,311 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Allogene Therapeutics Stock Up 13.6%

The firm has a market cap of $600.92 million, a PE ratio of -2.86 and a beta of 0.53. The firm’s 50 day moving average is $2.31 and its 200-day moving average is $1.72.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.08. On average, analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

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.