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

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

More Allogene Therapeutics News

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

ALLO has been the topic of a number of recent research reports. Citizens Jmp raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 price objective on the stock in a report on Friday, January 9th. Citigroup raised Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday, January 9th. Canaccord Genuity Group reissued a “buy” rating and set a $14.00 price objective on shares of Allogene Therapeutics in a report on Friday, March 13th. Piper Sandler increased their price objective on Allogene Therapeutics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, UBS Group initiated coverage on Allogene Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Allogene Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $8.30.

Allogene Therapeutics Trading Up 11.7%

The firm has a fifty day simple moving average of $2.29 and a two-hundred day simple moving average of $1.71. The stock has a market cap of $740.85 million, a PE ratio of -3.49 and a beta of 0.53.

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. Equities analysts forecast that Allogene Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO David D. Chang sold 47,763 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $2.47, for a total transaction of $117,974.61. Following the transaction, the chief executive officer directly owned 5,150,599 shares of the company’s stock, valued at approximately $12,721,979.53. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Earl Martin Douglas sold 22,900 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $1.76, for a total value of $40,304.00. Following the transaction, the senior vice president directly owned 564,948 shares in the company, valued at approximately $994,308.48. This represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 278,452 shares of company stock worth $534,053. 13.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allogene Therapeutics

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of Allogene Therapeutics by 57.5% during the 4th quarter. Hsbc Holdings PLC now owns 148,136 shares of the company’s stock valued at $199,000 after buying an additional 54,071 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allogene Therapeutics by 84.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 44,334 shares of the company’s stock valued at $61,000 after buying an additional 20,287 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Allogene Therapeutics by 55.9% during the 4th quarter. Virtu Financial LLC now owns 42,351 shares of the company’s stock valued at $58,000 after buying an additional 15,178 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Allogene Therapeutics by 16.1% during the 4th quarter. Invesco Ltd. now owns 609,807 shares of the company’s stock valued at $835,000 after buying an additional 84,494 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in shares of 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 buying an additional 5,514 shares in the last quarter. 83.63% of the stock is owned by hedge funds and other institutional investors.

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.