Brokerages Set Allogene Therapeutics, Inc. (NASDAQ:ALLO) Target Price at $8.40

Allogene Therapeutics, Inc. (NASDAQ:ALLO) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $8.40.

Several equities research analysts recently weighed in on ALLO shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of Allogene Therapeutics in a report on Friday, October 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Allogene Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Allogene Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Citizens Jmp upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating and set a $5.00 target price on the stock in a report on Friday. Finally, Citigroup upgraded shares of Allogene Therapeutics from a “market perform” rating to an “outperform” rating in a report on Friday.

More Allogene Therapeutics News

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 Stock Up 14.8%

Shares of NASDAQ ALLO opened at $1.71 on Thursday. Allogene Therapeutics has a 12 month low of $0.86 and a 12 month high of $3.78. The company has a market cap of $384.29 million, a price-to-earnings ratio of -1.74 and a beta of 0.51. The business has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $1.26.

Allogene Therapeutics (NASDAQ:ALLO) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. As a group, sell-side analysts expect that Allogene Therapeutics will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allogene Therapeutics news, CFO Geoffrey M. Parker sold 36,744 shares of Allogene Therapeutics stock in a transaction that occurred on Tuesday, October 21st. The stock was sold at an average price of $1.26, for a total value of $46,297.44. Following the transaction, the chief financial officer directly owned 1,276,796 shares of the company’s stock, valued at $1,608,762.96. The trade was a 2.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allogene Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ALLO. Vanguard Group Inc. raised its stake in Allogene Therapeutics by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,020,770 shares of the company’s stock valued at $11,186,000 after purchasing an additional 761,642 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of Allogene Therapeutics by 23.8% during the 3rd quarter. Primecap Management Co. CA now owns 7,079,308 shares of the company’s stock worth $8,778,000 after purchasing an additional 1,360,168 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Allogene Therapeutics by 177.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,853,974 shares of the company’s stock valued at $8,547,000 after buying an additional 3,747,397 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Allogene Therapeutics by 13.0% in the second quarter. Geode Capital Management LLC now owns 3,794,827 shares of the company’s stock valued at $4,289,000 after buying an additional 435,389 shares during the period. Finally, UBS Group AG grew its position in Allogene Therapeutics by 75.1% during the third quarter. UBS Group AG now owns 3,571,157 shares of the company’s stock worth $4,428,000 after buying an additional 1,532,238 shares in the last quarter. Institutional investors and hedge funds own 83.63% of the company’s stock.

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.