Allogene Therapeutics
ALLO on Nasdaq. Biological products, (no diagnostic substances). Market value $518m.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Capital spending looks too small to be complete, so we leave free cash flow out.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 16 of 100. Our list needs 70 on quality and 60 on price.
$1.46 a share, 40% above its 1-year low
Over the past year the price has ranged from $1.04 to $4.46.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $114m | $156,000 | $95,000 | $22,000 | $0 |
| Operating margin | |||||
| Operating margin | -157.9% | -215087.2% | -344986.3% | -1241813.6% | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.14bn | 0.17bn | 0.21bn | 0.22bn | 0.35bn |
Health checks
- Free cash flow positive0 of 2 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)1 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 140% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- A loss of $43 million, compared with a loss of $51 million a year ago.
- 50% more shares than a year ago. Each share owns a bit less of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | $0 |
| December 2024 | $0 |
| March 2025 | $0 |
| June 2025 | $0 |
| September 2025 | $0 |
| December 2025 | $0 |
| March 2026 | Not reported |
| June 2026 | $5m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$66m |
| December 2024 | -$60m |
| March 2025 | -$60m |
| June 2025 | -$51m |
| September 2025 | -$41m |
| December 2025 | -$39m |
| March 2026 | -$43m |
| June 2026 | -$43m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- 11 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 209 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Horizon KineticsMurray Stahl | $34,894 | <0.1% | Cut |
Largest holders overall
- BlackRock$63mAdded
- Pfizer$47m
- Frazier Life Sciences Management, L.P.$47mAdded
- State Street$40mAdded
- TPG GP A$39m
- Sio Capital Management$28mNew
- Primecap Management$27mAdded
- Vanguard Capital Management$25mAdded
- FMR$25mAdded
- Citadel Advisors$21mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
8 investors own more than 5%.
- Pfizer Inc.Passive investor9.0%Since 6 November 2025
- Frazier Life Sciences Public Fund, L.P.Passive investorat least 5.6%+0.9 pts(filed with 9 related holders)Since 30 June 2026
- STATE STREET CORPORATIONPassive investor5.5%Since 30 June 2026
- BlackRock, Inc.Passive investor5.3%Since 31 March 2025
- David D. Chang, M.D., Ph.D.Passive investorat least 4.9%−0.3 pts(filed with 3 related holders)Since 31 March 2026
- FMR LLCPassive investorat least 4.9%−6.4 pts(filed with 1 related holder)Since 28 February 2025
- Arie Belldegrun, M.D.Passive investorat least 3.9%−1.5 pts(filed with 5 related holders)Since 30 June 2026
- Kenneth GriffinPassive investorat least 2.8%−3.3 pts(filed with 6 related holders)Since 31 March 2026
- TPG GP A, LLCPassive investorSold down below 5%Since 28 September 2026
What they said
This Amendment amends and supplements Item 4 of the Original Schedule 13D by inserting the following after the two paragraphs titled "August 2020 Distribution in Kind": "On September 28, 2026, the TPG Funds sold an aggregate of 18,716,306 shares of Common Stock at a price of…
Read the filing - Lynx1 Capital Management LPPassive investorSold down below 5%Since 31 December 2025
- Capital World InvestorsPassive investorSold down below 5%Since 30 September 2025
| Holder | Stake | Since | |
|---|---|---|---|
Pfizer Inc. Passive investor | 9.0% | 6 November 2025 | |
Frazier Life Sciences Public Fund, L.P. Passive investor | at least 5.6%+0.9 pts (filed with 9 related holders) | 30 June 2026 | |
STATE STREET CORPORATION Passive investor | 5.5% | 30 June 2026 | |
BlackRock, Inc. Passive investor | 5.3% | 31 March 2025 | |
David D. Chang, M.D., Ph.D. Passive investor | at least 4.9%−0.3 pts (filed with 3 related holders) | 31 March 2026 | |
FMR LLC Passive investor | at least 4.9%−6.4 pts (filed with 1 related holder) | 28 February 2025 | |
Arie Belldegrun, M.D. Passive investor | at least 3.9%−1.5 pts (filed with 5 related holders) | 30 June 2026 | |
Kenneth Griffin Passive investor | at least 2.8%−3.3 pts (filed with 6 related holders) | 31 March 2026 | |
TPG GP A, LLC Passive investor | Sold down below 5% | 28 September 2026 | What they saidThis Amendment amends and supplements Item 4 of the Original Schedule 13D by inserting the following after the two paragraphs titled "August 2020 Distribution in Kind": "On September 28, 2026, the TPG Funds sold an aggregate of 18,716,306 shares of Common Stock at a price of… Read the filing |
Lynx1 Capital Management LP Passive investor | Sold down below 5% | 31 December 2025 | |
Capital World Investors Passive investor | Sold down below 5% | 30 September 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $666,411.
- Douglas Earl MartinSVP, General CounselSold
- Date
- 21 August 2026
- Shares
- 29,697
- Price
- $2.12
- Value
- $62,958
- Yoshiyama AnnieSVP, FinanceSold
- Date
- 21 April 2026
- Shares
- 9,586
- Price
- $2.31
- Value
- $22,144
- Beneski Benjamin MachinasSVP, Chief Technical OfficerSold
- Date
- 31 March 2026
- Shares
- 2,867
- Price
- $2.50
- Value
- $7,168
- Beneski Benjamin MachinasSVP, Chief Technical OfficerSold
- Date
- 16 March 2026
- Shares
- 4,835
- Price
- $2.47
- Value
- $11,942
- Chang David DPresident and CEO, DirectorSold
- Date
- 16 March 2026
- Shares
- 47,763
- Price
- $2.47
- Value
- $117,975
- Beneski Benjamin MachinasSVP, Chief Technical OfficerSold
- Date
- 2 March 2026
- Shares
- 7,132
- Price
- $2.60
- Value
- $18,543
- Beneski Benjamin MachinasSVP, Chief Technical OfficerSold
- Date
- 2 February 2026
- Shares
- 7,549
- Price
- $1.73
- Value
- $13,060
- Chang David DPresident and CEO, DirectorSold
- Date
- 2 February 2026
- Shares
- 95,269
- Price
- $1.80
- Value
- $171,484
- Parker Geoffrey M.CHIEF FINANCIAL OFFICERSold
- Date
- 2 February 2026
- Shares
- 24,001
- Price
- $1.76
- Value
- $42,242
- Yoshiyama AnnieSVP, FinanceSold
- Date
- 2 February 2026
- Shares
- 4,167
- Price
- $1.72
- Value
- $7,167
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 21 August 2026 | Douglas Earl Martin SVP, General Counsel | Sold | 29,697 | $2.12 | $62,958 |
| 21 April 2026 | Yoshiyama Annie SVP, Finance | Sold | 9,586 | $2.31 | $22,144 |
| 31 March 2026 | Beneski Benjamin Machinas SVP, Chief Technical Officer | Sold | 2,867 | $2.50 | $7,168 |
| 16 March 2026 | Beneski Benjamin Machinas SVP, Chief Technical Officer | Sold | 4,835 | $2.47 | $11,942 |
| 16 March 2026 | Chang David D President and CEO, Director | Sold | 47,763 | $2.47 | $117,975 |
| 2 March 2026 | Beneski Benjamin Machinas SVP, Chief Technical Officer | Sold | 7,132 | $2.60 | $18,543 |
| 2 February 2026 | Beneski Benjamin Machinas SVP, Chief Technical Officer | Sold | 7,549 | $1.73 | $13,060 |
| 2 February 2026 | Chang David D President and CEO, Director | Sold | 95,269 | $1.80 | $171,484 |
| 2 February 2026 | Parker Geoffrey M. CHIEF FINANCIAL OFFICER | Sold | 24,001 | $1.76 | $42,242 |
| 2 February 2026 | Yoshiyama Annie SVP, Finance | Sold | 4,167 | $1.72 | $7,167 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Mar 2026, plus the 10-Q filed 12 Aug 2026 and 8 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.