Allakos Inc. (NASDAQ:ALLK) Shares Sold by Rock Springs Capital Management LP

Rock Springs Capital Management LP lessened its position in shares of Allakos Inc. (NASDAQ:ALLK) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,100,409 shares of the company’s stock after selling 100,000 shares during the period. Rock Springs Capital Management LP owned about 1.23% of Allakos worth $1,331,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Allakos by 16.3% during the fourth quarter. Renaissance Technologies LLC now owns 844,233 shares of the company’s stock worth $1,022,000 after purchasing an additional 118,394 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Allakos during the 4th quarter worth approximately $75,000. Alta Partners Management Company L.P. bought a new position in Allakos during the 4th quarter worth $3,081,000. Finally, 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 purchasing an additional 80,763 shares during the period. 84.64% of the stock is currently owned by institutional investors.

Allakos Price Performance

ALLK stock opened at $0.33 on Monday. The firm has a market cap of $29.41 million, a PE ratio of -0.16 and a beta of 0.62. Allakos Inc. has a 12 month low of $0.22 and a 12 month high of $1.56. The firm has a 50 day simple moving average of $0.28 and a 200 day simple moving average of $0.72.

Analysts Set New Price Targets

Several research firms have commented on ALLK. Citizens Jmp cut shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler lowered shares of Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.00.

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.