3,628,144 Shares in Allakos Inc. (NASDAQ:ALLK) Purchased by Lynx1 Capital Management LP

Lynx1 Capital Management LP purchased a new stake in shares of Allakos Inc. (NASDAQ:ALLK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,628,144 shares of the company’s stock, valued at approximately $4,390,000. Allakos accounts for 1.6% of Lynx1 Capital Management LP’s holdings, making the stock its 10th biggest position. Lynx1 Capital Management LP owned approximately 4.06% of Allakos as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Allakos by 8.9% during the 3rd quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after acquiring an additional 80,763 shares during the period. Alta Partners Management Company L.P. purchased a new position in Allakos in the fourth quarter valued at approximately $3,081,000. ADAR1 Capital Management LLC bought a new position in Allakos during the fourth quarter valued at $75,000. Finally, Renaissance Technologies LLC increased its position in Allakos by 16.3% in the fourth quarter. Renaissance Technologies LLC now owns 844,233 shares of the company’s stock worth $1,022,000 after buying an additional 118,394 shares during the last quarter. Institutional investors own 84.64% of the company’s stock.

Allakos Price Performance

NASDAQ:ALLK opened at $0.33 on Friday. The company has a market cap of $29.52 million, a P/E ratio of -0.16 and a beta of 0.62. Allakos Inc. has a 1 year low of $0.22 and a 1 year high of $1.56. The stock’s fifty day moving average price is $0.28 and its two-hundred day moving average price is $0.71.

Analyst Upgrades and Downgrades

ALLK has been the topic of a number of recent research reports. Citizens Jmp cut Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $2.00.

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.