Allakos (NASDAQ:ALLK) PT Lowered to $1.00

Allakos (NASDAQ:ALLK) had its price objective reduced by investment analysts at Jefferies Financial Group from $1.50 to $1.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 24.52% from the stock’s current price.

Several other brokerages have also commented on ALLK. JMP Securities restated a “market outperform” rating and set a $3.00 target price on shares of Allakos in a research report on Wednesday, June 26th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Allakos in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Allakos currently has a consensus rating of “Hold” and a consensus target price of $1.67.

Allakos Trading Down 2.5 %

Shares of Allakos stock traded down $0.02 during trading on Thursday, reaching $0.80. The company’s stock had a trading volume of 74,992 shares, compared to its average volume of 1,000,909. The company has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.34. The firm has a market cap of $71.11 million, a PE ratio of -0.33 and a beta of 0.88. Allakos has a fifty-two week low of $0.72 and a fifty-two week high of $5.64.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.09). On average, analysts predict that Allakos will post -1.24 earnings per share for the current fiscal year.

Insider Activity at Allakos

In related news, CFO Harlan Baird Radford sold 87,064 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1.01, for a total value of $87,934.64. Following the completion of the transaction, the chief financial officer now owns 204,390 shares of the company’s stock, valued at approximately $206,433.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BVF Inc. IL increased its stake in shares of Allakos by 93.5% during the 1st quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock valued at $20,856,000 after acquiring an additional 8,000,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Allakos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock valued at $4,781,000 after acquiring an additional 539,087 shares during the last quarter. Opaleye Management Inc. acquired a new position in shares of Allakos during the 1st quarter valued at about $3,068,000. Acadian Asset Management LLC increased its stake in shares of Allakos by 1,753.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock valued at $1,677,000 after acquiring an additional 1,259,778 shares during the last quarter. Finally, Platinum Investment Management Ltd. increased its stake in shares of Allakos by 84.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock valued at $1,477,000 after acquiring an additional 537,038 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

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.