Allakos (NASDAQ:ALLK) Cut to “Hold” at Piper Sandler

Allakos (NASDAQ:ALLK) was downgraded by analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Citizens Jmp downgraded Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Allakos has a consensus rating of “Hold” and an average price target of $2.00.

Allakos Price Performance

NASDAQ:ALLK opened at $0.26 on Monday. The firm has a market cap of $23.04 million, a PE ratio of -0.13 and a beta of 0.86. The firm has a 50 day simple moving average of $1.04 and a 200-day simple moving average of $0.90. Allakos has a 1-year low of $0.23 and a 1-year high of $1.69.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. As a group, sell-side analysts expect that Allakos will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Allakos

A number of institutional investors and hedge funds have recently made changes to their positions in ALLK. Point72 Asset Management L.P. acquired a new position in Allakos in the third quarter valued at $1,143,000. FMR LLC raised its holdings in shares of Allakos by 14.6% in the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after purchasing an additional 685,623 shares during the period. RBF Capital LLC lifted its stake in shares of Allakos by 45.9% in the 3rd quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after purchasing an additional 160,529 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos during the 2nd quarter worth about $112,000. Finally, GSA Capital Partners LLP increased its position in Allakos by 11.9% during the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock worth $519,000 after purchasing an additional 84,750 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Allakos Company Profile

Allakos Inc, a clinical stage biotechnology company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases in the United States. The company’s lead product candidate is AK006, which in a Phase I clinical trial for the treatment of chronic spontaneous urticaria (CSU) and other indications.