Platinum Investment Management Ltd. Sells 244,183 Shares of Allakos Inc. (NASDAQ:ALLK)

Platinum Investment Management Ltd. decreased its holdings in Allakos Inc. (NASDAQ:ALLK) by 23.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 815,956 shares of the company’s stock after selling 244,183 shares during the period. Platinum Investment Management Ltd. owned 0.91% of Allakos worth $987,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Alta Partners Management Company L.P. bought a new stake in shares of Allakos in the 4th quarter worth approximately $3,081,000. Point72 Asset Management L.P. bought a new position in Allakos in the 3rd quarter worth about $1,143,000. FMR LLC boosted its stake in Allakos by 14.6% in the 3rd 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. RBF Capital LLC lifted its stake in Allakos by 45.9% during 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. Finally, GSA Capital Partners LLP lifted its stake in Allakos by 11.9% during the 3rd 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 period. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Allakos Stock Performance

Shares of NASDAQ ALLK opened at $0.26 on Wednesday. Allakos Inc. has a fifty-two week low of $0.23 and a fifty-two week high of $1.56. The firm has a market capitalization of $23.02 million, a PE ratio of -0.13 and a beta of 0.72. The stock’s 50-day simple moving average is $0.45 and its 200-day simple moving average is $0.78.

Analysts Set New Price Targets

ALLK has been the subject of several analyst reports. Piper Sandler lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Citizens Jmp lowered Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.00.

Allakos 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.