Allakos (NASDAQ:ALLK) Cut to “Hold” at Citizens Jmp

Allakos (NASDAQ:ALLK) was downgraded by Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Allakos Stock Performance

Shares of ALLK stock opened at $0.26 on Monday. The stock’s fifty day moving average is $1.04 and its 200-day moving average is $0.90. The stock has a market capitalization of $23.04 million, a PE ratio of -0.13 and a beta of 0.86. Allakos has a 52 week low of $0.23 and a 52 week high of $1.69.

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

Hedge Funds Weigh In On Allakos

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Allakos by 8.9% in the third 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 last quarter. RBF Capital LLC boosted 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 last quarter. Point72 Asset Management L.P. bought a new position in Allakos in the third quarter valued at about $1,143,000. FMR LLC boosted its holdings in Allakos by 14.6% in 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 during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Allakos by 11.9% in the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after acquiring an additional 84,750 shares during the last quarter. Institutional investors 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.