Allakos Inc (NASDAQ:ALLK) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $139.99 and last traded at $134.50, with a volume of 2201879 shares trading hands. The stock had previously closed at $95.94.
Several brokerages recently issued reports on ALLK. Zacks Investment Research lowered Allakos from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. William Blair reiterated a “buy” rating on shares of Allakos in a research report on Friday, August 9th. Finally, ValuEngine lowered Allakos from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.
The company has a 50-day moving average of $77.88 and a 200-day moving average of $63.95. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -62.60 and a beta of -1.13.
A number of large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY boosted its position in Allakos by 23.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,069 shares of the company’s stock worth $477,000 after acquiring an additional 1,138 shares during the last quarter. Millennium Management LLC boosted its position in Allakos by 110.0% during the 3rd quarter. Millennium Management LLC now owns 62,104 shares of the company’s stock worth $4,883,000 after acquiring an additional 680,204 shares during the last quarter. Man Group plc acquired a new position in Allakos during the 3rd quarter worth approximately $1,381,000. Redmile Group LLC boosted its position in Allakos by 33.8% during the 3rd quarter. Redmile Group LLC now owns 3,077,128 shares of the company’s stock worth $241,955,000 after acquiring an additional 776,827 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Allakos during the 3rd quarter worth approximately $3,118,000. 68.68% of the stock is owned by hedge funds and other institutional investors.
Allakos Company Profile (NASDAQ:ALLK)
Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.
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