Allakos (NASDAQ:ALLK) Downgraded to Hold Rating by Citizens Jmp

Citizens Jmp downgraded shares of Allakos (NASDAQ:ALLK) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Allakos Stock Up 9.1 %

ALLK opened at $0.26 on Monday. The company has a market cap of $23.04 million, a P/E ratio of -0.13 and a beta of 0.86. The firm’s 50-day moving average price is $1.04 and its 200-day moving average price is $0.90. Allakos has a 52-week low of $0.23 and a 52-week high of $1.69.

Allakos (NASDAQ:ALLK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. On average, research analysts anticipate that Allakos will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Allakos

A number of institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Allakos during the 3rd quarter valued at approximately $1,143,000. FMR LLC raised its position in Allakos by 14.6% during the third quarter. FMR LLC now owns 5,370,247 shares of the company’s stock valued at $3,508,000 after acquiring an additional 685,623 shares in the last quarter. RBF Capital LLC lifted its holdings in Allakos by 45.9% in the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after acquiring an additional 160,529 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Allakos in the 2nd quarter worth approximately $112,000. Finally, GSA Capital Partners LLP grew its stake in shares of 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 during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

About Allakos

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.