Allogene Therapeutics (NASDAQ:ALLO) Announces Earnings Results, Beats Expectations By $0.01 EPS

Allogene Therapeutics (NASDAQ:ALLO) announced its earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01, FiscalAI reports.

Here are the key takeaways from Allogene Therapeutics’ conference call:

• Allogene said its ALPHA3 interim futility analysis showed cema-cel achieved a 58.3% MRD clearance rate versus 16.7% in observation, with rapid ctDNA reduction and no CRS, ICANS, or treatment-related hospitalizations.
• Management emphasized that the early ALPHA3 safety profile could support outpatient administration and broader use in community settings, which they believe would meaningfully expand access to CAR T therapy.
• The company said the ALPHA3 data have already increased interest from clinical sites and community practices, with new sites reaching out to join the study and screening activity remaining strong.
• ALLO-329 in autoimmune disease is progressing through dose escalation with 9 patients treated, and management reported early signs of clinical activity alongside favorable tolerability at initial dose levels.
• Allogene ended the quarter with $266.9 million in cash and investments, added about $200.4 million from an April offering, and now expects its runway to extend into Q1 2029, while raising 2026 operating cash expense guidance to $165 million.

Allogene Therapeutics Trading Down 4.5%

ALLO stock traded down $0.11 during trading on Thursday, reaching $2.23. 3,638,903 shares of the stock were exchanged, compared to its average volume of 8,334,113. The firm’s 50 day moving average is $2.39 and its 200 day moving average is $1.84. The firm has a market cap of $544.72 million, a P/E ratio of -2.53 and a beta of 0.46. Allogene Therapeutics has a twelve month low of $0.94 and a twelve month high of $4.46.

Insider Buying and Selling

In other news, CEO David D. Chang sold 47,763 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $12,721,979.53. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 72,183 shares of company stock valued at $177,771 over the last ninety days. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Allogene Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLO. Goldman Sachs Group Inc. lifted its stake in shares of Allogene Therapeutics by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares in the last quarter. Kalehua Capital Management LLC bought a new stake in shares of Allogene Therapeutics during the fourth quarter worth about $3,488,000. Patient Square Capital LP raised its holdings in shares of Allogene Therapeutics by 66.5% in the 4th quarter. Patient Square Capital LP now owns 4,963,756 shares of the company’s stock worth $6,800,000 after acquiring an additional 1,982,360 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Allogene Therapeutics by 125.6% in the 3rd quarter. Millennium Management LLC now owns 3,390,026 shares of the company’s stock worth $4,204,000 after acquiring an additional 1,887,302 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Allogene Therapeutics by 109.7% in the 3rd quarter. Two Sigma Investments LP now owns 3,383,644 shares of the company’s stock valued at $4,196,000 after acquiring an additional 1,770,419 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALLO shares. Citizens Jmp raised their price objective on Allogene Therapeutics from $5.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group restated a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a research report on Friday, March 13th. Truist Financial upgraded shares of Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Argus boosted their target price on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Allogene Therapeutics in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.07.

About Allogene Therapeutics

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.