Allogene Therapeutics (NASDAQ:ALLO) Posts Earnings Results

Allogene Therapeutics (NASDAQ:ALLO) announced its earnings results on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Price Performance

Shares of ALLO opened at $2.14 on Friday. The company has a market cap of $523.91 million, a P/E ratio of -2.78 and a beta of 0.46. The stock has a fifty day moving average price of $2.38 and a 200 day moving average price of $1.85. Allogene Therapeutics has a 12 month low of $0.94 and a 12 month high of $4.46.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial raised Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Citizens Jmp boosted their price target on Allogene Therapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. upgraded Allogene Therapeutics from an “underweight” rating to a “neutral” rating in a report on Thursday, April 16th. Argus boosted their price target on Allogene Therapeutics from $1.60 to $3.85 and gave the company a “market perform” rating in a report on Tuesday, April 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $14.00 price target on shares of Allogene Therapeutics in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, eight 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, Allogene Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.52.

Insider Buying and Selling

In related news, CEO David D. Chang sold 47,763 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 5,150,599 shares in the company, valued at $12,721,979.53. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 72,183 shares of company stock worth $177,771. 13.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV grew its stake in shares of Allogene Therapeutics by 23.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,512 shares of the company’s stock worth $40,000 after purchasing an additional 5,514 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Allogene Therapeutics by 27.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock worth $50,000 after purchasing an additional 8,519 shares in the last quarter. Zacks Investment Management grew its stake in shares of Allogene Therapeutics by 2.7% in the third quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock worth $652,000 after purchasing an additional 13,831 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of Allogene Therapeutics by 20.5% in the fourth quarter. Intech Investment Management LLC now owns 86,637 shares of the company’s stock worth $119,000 after purchasing an additional 14,742 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Allogene Therapeutics by 55.9% in the fourth quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock worth $58,000 after purchasing an additional 15,178 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors.

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.