HC Wainwright Issues Optimistic Outlook for ALLO Earnings

Key Points

• HC Wainwright raised its Q1 2026 EPS estimate for Allogene to ($0.19) from ($0.24), maintained a "Buy" rating and a $12 price target, and projects FY2026 EPS of ($0.66).
• Allogene priced an 87.5 million-share public offering at $2.00 (≈$175M), creating immediate dilution and pressure on the stock, which traded near $2.17 and was down about 4.8%.
• Pipeline progress (Nature Communications preclinical data and strong ALPHA3 MRD signals) and several analyst upgrades have driven optimism and a consensus "Moderate Buy" with a $8.44 target, but recent insider selling and unusual options activity raise near-term execution and volatility risks.

Allogene Therapeutics, Inc. (NASDAQ:ALLO - Free Report) - Research analysts at HC Wainwright lifted their Q1 2026 earnings per share (EPS) estimates for Allogene Therapeutics in a research note issued on Tuesday, April 14th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($0.19) per share for the quarter, up from their previous forecast of ($0.24). HC Wainwright has a "Buy" rating and a $12.00 price objective 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' Q2 2026 earnings at ($0.16) EPS, Q3 2026 earnings at ($0.15) EPS, Q4 2026 earnings at ($0.16) EPS and FY2026 earnings at ($0.66) EPS.

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

Several other brokerages also recently weighed in on ALLO. Sanford C. Bernstein lifted their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the company a "market perform" rating in a research note on Tuesday. Piper Sandler lifted their target price on Allogene Therapeutics from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. Citigroup reiterated an "outperform" rating on shares of Allogene Therapeutics in a research note on Tuesday. Jefferies Financial Group lifted their target price on Allogene Therapeutics from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Monday. Finally, Argus lifted their target price on Allogene Therapeutics from $1.60 to $3.85 and gave the company a "market perform" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.44.

Allogene Therapeutics Trading Down 4.8%

Shares of ALLO stock opened at $2.17 on Thursday. The business's 50 day moving average is $2.31 and its two-hundred day moving average is $1.72. Allogene Therapeutics has a twelve month low of $0.86 and a twelve month high of $4.46. The company has a market capitalization of $529.00 million, a P/E ratio of -2.49 and a beta of 0.53.

Hedge Funds Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ALLO. AQR Capital Management LLC acquired a new position in Allogene Therapeutics during the first quarter worth $85,000. Goldman Sachs Group Inc. raised its holdings in Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company's stock worth $8,547,000 after purchasing an additional 3,747,397 shares during the last quarter. Jane Street Group LLC raised its holdings in Allogene Therapeutics by 578.7% during the first quarter. Jane Street Group LLC now owns 1,116,681 shares of the company's stock worth $1,630,000 after purchasing an additional 952,158 shares during the last quarter. Geode Capital Management LLC raised its holdings in Allogene Therapeutics by 13.0% during the second quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company's stock worth $4,289,000 after purchasing an additional 435,389 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Allogene Therapeutics by 14.0% during the second quarter. Rhumbline Advisers now owns 209,336 shares of the company's stock worth $237,000 after purchasing an additional 25,628 shares during the last quarter. 83.63% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Allogene Therapeutics

In related news, CEO David D. Chang sold 95,269 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.80, for a total transaction of $171,484.20. Following the completion of the transaction, the chief executive officer directly owned 5,185,862 shares of the company's stock, valued at approximately $9,334,551.60. The trade was a 1.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Geoffrey M. Parker sold 24,001 shares of Allogene Therapeutics stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $1.76, for a total value of $42,241.76. Following the transaction, the chief financial officer directly owned 1,252,795 shares of the company's stock, valued at approximately $2,204,919.20. This represents a 1.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 278,452 shares of company stock valued at $534,053. Company insiders own 13.20% of the company's stock.

Key Headlines Impacting Allogene Therapeutics

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

• Positive Sentiment: Nature Communications published pre‑clinical data on ALLO‑329 (a dual CD19/CD70 AlloCAR‑T for autoimmune disease), validating pipeline progress and supporting longer‑term value of non‑oncology programs. Article Link
• Positive Sentiment: Early ALPHA3 data (cema‑cel) showed strong MRD clearance in first‑line LBCL, a clinically meaningful signal that boosted investor optimism about near‑term commercialization or partnership potential. Article Link
• Positive Sentiment: Analyst bullishness is increasing — Jefferies raised its price target to $10 and set a Buy, joining several other recent upgrades and higher targets that support upside expectations. Article Link
• Positive Sentiment: Unusually high call‑option activity suggests speculative bullish positioning or hedging tied to the recent clinical/upgrade news. Article Link
• Neutral Sentiment: Multiple firms adjusted price targets upward (Baird, Citizens, Argus, etc.), increasing analyst attention but with a wide range of targets (near‑term execution risk remains).
• Neutral Sentiment: Company commentary and coverage include discussion of an interim futility analysis from the pivotal Phase II ALPHA3 trial; such analyses can move markets depending on final interpretation but are informational until formal readouts. Article Link
• Negative Sentiment: Allogene priced a large public offering of 87.5M shares at $2.00 (≈$175M gross) with an underwriter option for more — immediate dilution and press for the stock at a low price is the main headwind weighing on the share price. Article Link
• Negative Sentiment: Unusual put buying (4,437 put contracts, ~356% above normal daily put volume) points to hedging or bearish bets by some traders, adding downside pressure/volatility.
• Negative Sentiment: Recent insider selling (multiple exec sales noted in public filings) and mixed institutional repositioning can amplify negative sentiment around the offering and near‑term funding needs.

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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