Allakos (NASDAQ:ALLK) Stock Rating Lowered by Piper Sandler

Allakos (NASDAQ:ALLK) was downgraded by equities researchers at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

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

Allakos Stock Performance

ALLK stock opened at $0.26 on Monday. The stock has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $0.90. The firm has a market cap of $23.04 million, a P/E ratio of -0.13 and a beta of 0.86. Allakos has a 1 year low of $0.23 and a 1 year high of $1.69.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. On average, equities research analysts predict that Allakos will post -1.16 EPS for the current year.

Institutional Trading of Allakos

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in 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 last quarter. RBF Capital LLC lifted its position in shares of Allakos by 45.9% during the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after purchasing an additional 160,529 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Allakos in the third quarter worth about $1,143,000. FMR LLC grew its stake in Allakos by 14.6% in the third quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after purchasing an additional 685,623 shares in the last quarter. Finally, GSA Capital Partners LLP increased 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 buying an additional 84,750 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.