Allakos (NASDAQ:ALLK) Lowered to Hold Rating by Piper Sandler

Piper Sandler cut shares of Allakos (NASDAQ:ALLK) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Separately, Citizens Jmp cut Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Allakos has an average rating of “Hold” and an average target price of $2.00.

Allakos Price Performance

Allakos stock opened at $0.26 on Monday. Allakos has a 12 month low of $0.23 and a 12 month high of $1.69. The company has a fifty day moving average price of $1.04 and a two-hundred day moving average price of $0.90. The company has a market cap of $23.04 million, a PE ratio of -0.13 and a beta of 0.86.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Allakos by 8.9% during the third quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after buying an additional 80,763 shares during the last quarter. RBF Capital LLC increased its position in Allakos by 45.9% in the 3rd 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 Asset Management L.P. bought a new stake in Allakos during the 3rd quarter valued at $1,143,000. FMR LLC boosted its position in Allakos by 14.6% during the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after acquiring an additional 685,623 shares during the period. Finally, GSA Capital Partners LLP grew its stake in shares of Allakos by 11.9% in the third 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 in the last quarter. 84.64% of the stock is owned by institutional investors and hedge funds.

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.