Allogene Therapeutics (NASDAQ:ALLO) Stock Price Expected to Rise, Argus Analyst Says

Key Points

• Interim ALPHA3 results showed a large benefit for cemacabtagene ansegedleucel with 58.3% MRD clearance vs. 16.7% in observation, triggering wide media coverage, unusually large call‑option activity and multiple analyst upgrades.
• Argus raised its price objective to $3.85 (a "market perform" rating, ~45.6% upside), while the street average target is roughly $8.13 and the consensus rating is "Moderate Buy" with several firms at "Buy"/"Outperform".
• Despite the positive data, ALLO traded near $2.65 (market cap ~$644.8M) and faces dilution risk from a proposed $175M offering, with insiders having sold about 278,452 shares in the last 90 days.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) had its price objective increased by stock analysts at Argus from $1.60 to $3.85 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Argus' price objective suggests a potential upside of 45.56% from the company's previous close.

A number of other brokerages have also weighed in on ALLO. UBS Group initiated coverage on shares of Allogene Therapeutics in a report on Wednesday, January 7th. They issued a "buy" rating and a $8.00 price target on the stock. Sanford C. Bernstein reiterated a "market perform" rating and issued a $3.85 price target (up from $1.60) on shares of Allogene Therapeutics in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of Allogene Therapeutics in a report on Friday. They issued a "buy" rating and a $6.00 price target on the stock. Wall Street Zen upgraded shares of Allogene Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, February 22nd. Finally, Citigroup reiterated an "outperform" rating on shares of Allogene Therapeutics in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.13.

Allogene Therapeutics Price Performance

ALLO stock traded down $0.42 during midday trading on Tuesday, hitting $2.65. The stock had a trading volume of 9,314,893 shares, compared to its average volume of 7,002,439. The firm has a market cap of $644.79 million, a PE ratio of -3.02 and a beta of 0.53. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $4.46. The company's 50-day moving average price is $2.29 and its 200 day moving average price is $1.71.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.08. As a group, sell-side analysts anticipate that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 35,700 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.77, for a total transaction 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. The trade was a 5.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Earl Martin Douglas sold 22,900 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total transaction of $40,304.00. Following the transaction, the senior vice president owned 564,948 shares in the company, valued at $994,308.48. The trade was a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 278,452 shares of company stock worth $534,053. Insiders own 13.20% of the company's stock.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ALLO. Savant Capital LLC acquired a new position in Allogene Therapeutics in the 3rd quarter worth $27,000. Russell Investments Group Ltd. lifted its holdings in Allogene Therapeutics by 11,159.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company's stock worth $27,000 after buying an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company's stock worth $30,000 after buying an additional 23,599 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Allogene Therapeutics in the 3rd quarter worth $30,000. Finally, Brighton Jones LLC lifted its holdings in Allogene Therapeutics by 81.6% in the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company's stock worth $31,000 after buying an additional 11,311 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company's stock.

More Allogene Therapeutics News

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

• Positive Sentiment: Interim ALPHA3 trial results showed a large benefit for cemacabtagene ansegedleucel (Cema‑Cel) — 58.3% MRD clearance vs. 16.7% in observation, rapid ctDNA reduction, favorable tolerability (no CRS/ICANS/GvHD or treatment‑related SAEs reported). This is the main catalyst that drove the initial sharp upswing. ALPHA3 press release
• Positive Sentiment: Wide media pickup amplified the results (FierceBiotech, BioSpace, STAT, Business Insider, MarketWatch), increasing investor attention and momentum into the stock. FierceBiotech coverage
• Positive Sentiment: Multiple analyst upgrades/price‑target hikes followed the data (Robert W. Baird to $9/outperform; Citizens JMP to $8/market outperform), signaling institutional bullishness and implying large upside from current levels. Benzinga: price target raises The Fly: Baird raise
• Positive Sentiment: Unusually large call‑option activity (roughly 6,076 calls traded) indicates speculative and directional bullish interest from options traders ahead of/after the data release. Options volume note
• Neutral Sentiment: Company held a conference call/webcast and investor materials (slides/transcript) providing more detail; helpful for assessing durability of effect and planned path to registration but neutral until longer‑term endpoints (EFS/primary EFS) are reported. Seeking Alpha slides/transcript
• Neutral Sentiment: Trading was briefly halted for ALLO on the morning of the release for "news pending" — a procedural item that accompanied the data/announcements. Trading halt
• Negative Sentiment: Allogene filed a proposed underwritten public offering of $175M of common stock (plus a 30‑day option for up to $26.25M). While proceeds strengthen the balance sheet and can fund development/launch, a primary offering typically dilutes existing shareholders and likely caused the intraday pullback after the initial rally. Offering press release

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.

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