HC Wainwright Issues Optimistic Estimate for ALLO Earnings

Key Points

• HC Wainwright raised its Q2 2026 EPS estimate to ($0.15) from ($0.16), reiterated a Buy rating and set a $12 price target while lifting its FY2026 EPS view, signaling a more optimistic near‑term outlook.
• Despite analyst upgrades and promising ALLO‑329 data, Allogene closed a large public offering that raised about $200.4M, creating dilution that triggered a sharp (~13%) share price decline.
• The consensus among analysts is a "Moderate Buy" with a $8.44 average price target after several firms raised their forecasts, even as insiders have recently sold shares and institutional ownership sits at ~83.6%.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) - Analysts at HC Wainwright boosted their Q2 2026 EPS estimates for Allogene Therapeutics in a report released on Thursday, April 16th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($0.15) per share for the quarter, up from their previous estimate of ($0.16). HC Wainwright has a "Buy" rating and a $12.00 price target on the stock. The consensus estimate for Allogene Therapeutics' current full-year earnings is ($1.28) per share. HC Wainwright also issued estimates for Allogene Therapeutics' Q3 2026 earnings at ($0.14) EPS, Q4 2026 earnings at ($0.15) EPS and FY2026 earnings at ($0.62) EPS.

Allogene Therapeutics (NASDAQ:ALLO - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.08.

Several other brokerages have also commented on ALLO. Robert W. Baird lifted their price objective on shares of Allogene Therapeutics from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Sanford C. Bernstein lifted their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a "market perform" rating in a research report on Tuesday, April 14th. Argus lifted their price objective on shares of Allogene Therapeutics from $1.60 to $3.85 and gave the stock a "market perform" rating in a research report on Tuesday, April 14th. Citizens Jmp lifted their price objective 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, April 14th. Finally, Wall Street Zen raised shares of Allogene Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.44.

Allogene Therapeutics Stock Performance

Shares of ALLO stock opened at $2.39 on Monday. The firm has a market cap of $582.63 million, a price-to-earnings ratio of -2.75 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 firm's 50-day simple moving average is $2.34 and its two-hundred day simple moving average is $1.74.

Institutional Trading of Allogene Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its holdings in Allogene Therapeutics by 23.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company's stock worth $40,000 after acquiring an additional 5,514 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Allogene Therapeutics by 27.3% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company's stock worth $50,000 after acquiring an additional 8,519 shares during the period. Brighton Jones LLC increased its holdings in Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company's stock worth $31,000 after acquiring an additional 11,311 shares during the period. Zacks Investment Management increased its holdings in Allogene Therapeutics by 2.7% during the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company's stock worth $652,000 after acquiring an additional 13,831 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Allogene Therapeutics by 19.6% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 85,720 shares of the company's stock worth $106,000 after acquiring an additional 14,032 shares during the period. Institutional investors own 83.63% of the company's stock.

Insider Buying and Selling at Allogene Therapeutics

In other news, SVP Earl Martin Douglas sold 22,900 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $40,304.00. Following the sale, the senior vice president owned 564,948 shares of the company's stock, valued at $994,308.48. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David D. Chang sold 47,763 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were 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 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 278,452 shares of company stock worth $534,053. 13.20% of the stock is currently owned by company insiders.

Trending Headlines about Allogene Therapeutics

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

• Positive Sentiment: HC Wainwright raised multiple 2026 EPS estimates and reiterates a Buy rating with a $12 price target, improving near-term profitability outlook from prior forecasts. HC Wainwright Research Note
• Positive Sentiment: Robert W. Baird increased its price target to $9, signaling stronger upside expectations from analysts. Baird PT Raise
• Positive Sentiment: Argus and Citizens JMP published bullish commentary/forecasts calling for strong price appreciation, adding to analyst-driven demand. Argus Commentary
• Positive Sentiment: Allogene published promising ALLO‑329 data in Nature Communications and is featured in coverage noting potential for an off‑the‑shelf CAR‑T approach, supporting the long‑term clinical story. Nature Communications Coverage
• Positive Sentiment: Independent media coverage highlights broader pancreatic‑cancer/CAR‑T progress that could benefit off‑the‑shelf players like Allogene if clinical readouts continue to improve. STAT News
• Neutral Sentiment: JPMorgan upgraded Allogene from underweight to neutral — an improvement in sentiment but not a buy call, so impact may be limited compared with full buy upgrades. JPMorgan Upgrade
• Negative Sentiment: Allogene closed a large public offering of common stock raising roughly $200.4M (87.5M shares at $2.00 plus option exercise), creating significant dilution that has weighed on the share price. Offering Close
• Negative Sentiment: Market reaction included a sharp drop reported after the equity raise (coverage notes ~13% decline in one report), underscoring investor sensitivity to dilution even amid positive data and analyst notes. Market Reaction / Yahoo

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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