Allogene Therapeutics (NASDAQ:ALLO) Price Target Raised to $9.00

Key Points

• Price target raised: Robert W. Baird bumped its price objective to $9.00 (from $7.00) with an "outperform" rating—implying ~196% upside—and the consensus analyst target sits around $8.64 with a "Moderate Buy" rating.
• Strong clinical readout: Interim ALPHA3 data showed 58.3% MRD clearance for Cema‑Cel vs. 16.7% in observation, a 97.7% median ctDNA drop and no CRS/ICANS/GvHD reported, prompting heavy media coverage and elevated options activity.
• Potential dilution risk: Allogene filed to sell $175M of common stock (plus a 30‑day option for $26.25M), which could dilute existing holders and pressure the share price despite the positive trial news; insiders have also sold shares recently.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) had its price objective upped by research analysts at Robert W. Baird from $7.00 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective suggests a potential upside of 196.15% from the stock's previous close.

Other research analysts have also issued reports about the company. Citigroup reaffirmed an "outperform" rating on shares of Allogene Therapeutics in a report on Tuesday. Piper Sandler upped their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the company an "overweight" rating in a report on Friday, March 13th. UBS Group initiated coverage on Allogene Therapeutics in a report on Wednesday, January 7th. They issued a "buy" rating and a $8.00 price objective on the stock. Jefferies Financial Group began coverage on Allogene Therapeutics in a report on Friday. They issued a "buy" rating and a $6.00 price objective on the stock. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $14.00 target price on shares of Allogene Therapeutics in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Allogene Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $8.64.

Allogene Therapeutics Price Performance

Shares of NASDAQ ALLO opened at $3.04 on Tuesday. The stock's fifty day moving average price is $2.29 and its two-hundred day moving average price is $1.71. Allogene Therapeutics has a one year low of $0.86 and a one year high of $4.46. The firm has a market cap of $740.84 million, a price-to-earnings ratio of -3.49 and a beta of 0.53.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.17) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.08. On average, equities analysts anticipate that Allogene Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Zachary Roberts sold 35,700 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.77, for a total transaction of $63,189.00. Following the sale, the executive vice president directly owned 581,166 shares of the company's stock, valued at approximately $1,028,663.82. This represents a 5.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David D. Chang sold 47,763 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $2.47, for a total value of $117,974.61. Following the sale, the chief executive officer directly owned 5,150,599 shares in the company, valued at approximately $12,721,979.53. This trade represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 278,452 shares of company stock valued at $534,053. Company insiders own 13.20% of the company's stock.

Institutional Trading of Allogene Therapeutics

Large investors have recently bought and sold shares of the business. Savant Capital LLC acquired a new stake in Allogene Therapeutics in the third quarter valued at about $27,000. Russell Investments Group Ltd. boosted its stake in 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 buying an additional 21,650 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Allogene Therapeutics in the third quarter valued at about $30,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 buying an additional 23,599 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in Allogene Therapeutics by 81.6% in 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 in the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

Allogene Therapeutics News Roundup

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

• Positive Sentiment: Interim pivotal trial result — ALPHA3 showed 58.3% MRD clearance for Cema‑Cel vs. 16.7% in observation (41.6 ppt absolute difference), a 97.7% median drop in plasma ctDNA by day 45, and no cases of CRS, ICANS, GvHD or treatment‑related serious AEs reported so far; company flagged mid‑2027 interim EFS and mid‑2028 primary EFS. Allogene Therapeutics Reports Interim Futility Analysis from Pivotal ALPHA3 Trial
• Positive Sentiment: Multiple outlets highlight the clinical finding that residual lymphoma cells were cleared in early data cuts, increasing confidence in Allogene’s off‑the‑shelf CAR‑T approach and widening investor interest. Allogene’s off-the-shelf CAR-T erases lingering lymphoma cells in early slice of data
• Positive Sentiment: Market reaction and exposure — press summaries and coverage (BioSpace, STAT, MarketWatch) and heavy options activity (≈6,076 call contracts, ~901% above typical) point to speculative and institutional buying interest. Allogene stock sails after CAR T clears residual lymphoma in early data cut
• Positive Sentiment: Analyst bullishness — Jefferies issued a Buy and coverage notes highlight large upside (consensus price targets well above current levels), supporting momentum. Allogene Therapeutics NASDAQ: ALLO Earns Buy Rating from Analysts at Jefferies Financial Group
• Neutral Sentiment: Trading actions — shares were temporarily halted for “news pending” ahead of the release; the company held a conference call/webcast to discuss the results. Allogene Therapeutics Reports Interim Futility Analysis from Pivotal ALPHA3 Trial
• Negative Sentiment: Proposed equity raise — Allogene filed to sell $175M of common stock (with a 30‑day option for an extra $26.25M). That primary offering could dilute existing holders and may pressure the stock despite strong data. Allogene Therapeutics Announces Proposed Public Offering of $175 Million of Common Stock

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.

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