Allogene Therapeutics (NASDAQ:ALLO) Upgraded to “Outperform” at Citizens Jmp

Citizens Jmp upgraded shares of Allogene Therapeutics (NASDAQ:ALLO) from a market perform rating to an outperform rating in a report issued on Friday, Marketbeat.com reports. They currently have $5.00 price objective on the stock.

Several other analysts also recently weighed in on ALLO. Wall Street Zen upgraded Allogene Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Allogene Therapeutics in a report on Friday, October 10th. UBS Group assumed coverage on shares of Allogene Therapeutics in a research report on Wednesday. They set a “buy” rating and a $8.00 price target for the company. Citigroup raised shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Allogene Therapeutics in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.40.

Allogene Therapeutics Trading Up 14.8%

Shares of NASDAQ:ALLO opened at $1.71 on Friday. The stock has a market capitalization of $384.29 million, a P/E ratio of -1.74 and a beta of 0.51. The stock’s 50-day moving average price is $1.36 and its 200-day moving average price is $1.26. Allogene Therapeutics has a 12-month low of $0.86 and a 12-month high of $3.78.

Allogene Therapeutics (NASDAQ:ALLO) last released its earnings results on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. As a group, research analysts predict that Allogene Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling

In other news, CFO Geoffrey M. Parker sold 36,744 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $1.26, for a total value of $46,297.44. Following the completion of the sale, the chief financial officer directly owned 1,276,796 shares of the company’s stock, valued at approximately $1,608,762.96. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Allogene Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Savant Capital LLC purchased a new stake in Allogene Therapeutics in the third quarter worth about $27,000. Russell Investments Group Ltd. raised its position in shares of Allogene Therapeutics by 11,159.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,844 shares of the company’s stock worth $27,000 after acquiring an additional 21,650 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Allogene Therapeutics by 5,267.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 24,047 shares of the company’s stock valued at $30,000 after purchasing an additional 23,599 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Allogene Therapeutics during the third quarter valued at approximately $30,000. Finally, Brighton Jones LLC grew its stake in Allogene Therapeutics by 81.6% in the third quarter. Brighton Jones LLC now owns 25,168 shares of the company’s stock worth $31,000 after purchasing an additional 11,311 shares during the period. 83.63% of the stock is owned by institutional investors.

Key Headlines Impacting Allogene Therapeutics

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

• Positive Sentiment: UBS initiated coverage with a Buy and $8 price target, citing upside to ALLO’s pipeline and potential validation of allogeneic CAR‑T if upcoming readouts are positive. UBS initiates coverage of Allogene Therapeutics (ALLO) with buy recommendation
• Positive Sentiment: Citizens JMP upgraded ALLO from Market Perform to Outperform and set a $5 target — another analyst vote that increases the stock’s visible upside and likely contributed to short‑term buying. Benzinga coverage of analyst action
• Positive Sentiment: Allogene’s own press release frames 2026 as a program‑defining year with multiple first‑half clinical readouts planned across oncology and autoimmune programs — this set of near‑term milestones increases binary upside if data are positive. Allogene Therapeutics Positions 2026 as a Program-Defining Year
• Neutral Sentiment: AAII explains the immediate price move, attributing it to the new analyst coverage and the company’s 2026 roadmap; useful read for traders seeking the narrative behind today’s jump. Why Allogene Therapeutics, Inc.’s (ALLO) Stock Is Up 18.13%
• Neutral Sentiment: Zacks compares ALLO to medical‑sector peers and discusses sector‑level performance this year — helpful context but not a direct catalyst. Are Medical Stocks Lagging Allogene Therapeutics (ALLO) This Year?
• Neutral Sentiment: Globe and Mail ran an analysts‑insights piece that includes ALLO — provides additional perspective but no new company data. Analysts Offer Insights on Healthcare Companies

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.