Allogene Therapeutics (NASDAQ:ALLO) Sets New 1-Year High – Here’s Why

Allogene Therapeutics, Inc. (NASDAQ:ALLO) hit a new 52-week high on Tuesday . The company traded as high as $4.46 and last traded at $3.0390, with a volume of 87442890 shares changing hands. The stock had previously closed at $2.72.

Allogene Therapeutics News Roundup

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

• Positive Sentiment: Interim ALPHA3 data showed a 58.3% MRD clearance rate with Cema?Cel vs. 16.7% in the observation arm, a 41.6% absolute improvement, rapid ctDNA declines, and no cases of CRS, ICANS, GvHD or treatment?related serious adverse events reported — results the company says exceeded clinically meaningful benchmarks and support continued development and an interim EFS readout timeline. Allogene Therapeutics Reports Interim Futility Analysis from Pivotal ALPHA3 Trial
• Positive Sentiment: Coverage and press highlight the interim readout and the stock reaching a 52?week high, reinforcing momentum as investors price in the potential commercial/clinical value of an off?the?shelf CAR?T that appears well tolerated. Allogene Therapeutics stock hits 52-week high – here’s why
• Positive Sentiment: Jefferies initiated/issued a Buy rating (reported by media), adding institutional analyst support that can amplify buying after favorable clinical news. Allogene Therapeutics (NASDAQ:ALLO) Earns Buy Rating from Analysts at Jefferies Financial Group
• Neutral Sentiment: Unusually large options activity was recorded — ~6,076 calls traded (about 9x average) — indicating speculative bullish positioning that can amplify intraday moves but adds volatility risk. (No article link available for the raw options stat.)
• Neutral Sentiment: Trading was briefly halted for “news pending” ahead of the release; such halts are common around material clinical announcements and can concentrate intraday volatility. (Regulatory halt noted in market data.)
• Negative Sentiment: Allogene announced a proposed underwritten public offering of $175M of common stock (plus a 30?day option for an additional $26.25M). While proceeds would bolster the balance sheet and fund development, the sale of new shares is dilutive and typically puts near?term pressure on the share price. Allogene Therapeutics Announces Proposed Public Offering of $175 Million of Common Stock

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALLO shares. Citigroup upgraded Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Friday, January 9th. Jefferies Financial Group started coverage on Allogene Therapeutics in a research report on Friday. They set a “buy” rating and a $6.00 price target on the stock. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Truist Financial upgraded Allogene Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Piper Sandler lifted their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Stock Up 11.7%

The company has a market capitalization of $740.85 million, a P/E ratio of -3.49 and a beta of 0.53. The company has a 50-day moving average of $2.29 and a two-hundred day moving average of $1.71.

Allogene Therapeutics (NASDAQ:ALLO) last released its quarterly 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. As a group, equities analysts expect that Allogene Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Transactions at Allogene Therapeutics

In related news, EVP Zachary Roberts sold 35,700 shares of Allogene Therapeutics stock in a transaction that occurred 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 in the company, valued at $1,028,663.82. The trade was a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David D. Chang sold 47,763 shares of Allogene Therapeutics stock in a transaction on Monday, March 16th. The shares were sold at an average price of $2.47, for a total value of $117,974.61. Following the transaction, the chief executive officer owned 5,150,599 shares of the company’s stock, valued at $12,721,979.53. The trade was a 0.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have 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

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV increased its stake 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 valued at $40,000 after purchasing an additional 5,514 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Allogene Therapeutics by 27.3% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 39,730 shares of the company’s stock valued at $50,000 after purchasing an additional 8,519 shares in the last quarter. Brighton Jones LLC increased its stake in Allogene Therapeutics by 81.6% during the 3rd quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock valued at $31,000 after purchasing an additional 11,311 shares in the last quarter. Zacks Investment Management increased its stake in Allogene Therapeutics by 2.7% during the 3rd quarter. Zacks Investment Management now owns 526,132 shares of the company’s stock valued at $652,000 after purchasing an additional 13,831 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake 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 valued at $106,000 after purchasing an additional 14,032 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.