Allakos (NASDAQ:ALLK) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Allakos (NASDAQ:ALLK) from a sell rating to a hold rating in a research note published on Monday, Zacks.com reports.

According to Zacks, “Allakos Inc. is a clinical stage bio-technology company. It discovers and develops therapeutic antibodies for the treatment of allergic, inflammatory and proliferative diseases. Allakos Inc. is based in CA, United States. “

NASDAQ:ALLK opened at $32.49 on Monday. Allakos has a 52-week low of $26.00 and a 52-week high of $65.48. The company’s fifty day moving average is $40.87.

Allakos (NASDAQ:ALLK) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.13). On average, research analysts anticipate that Allakos will post -1.94 earnings per share for the current year.

In related news, major shareholder Venture Fund (Ohi Rivervest II sold 93,735 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $39.83, for a total transaction of $3,733,465.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Mckearn sold 38,732 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.80, for a total value of $1,541,533.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,373 shares of company stock worth $7,408,059. 52.11% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can bought a new position in Allakos in the 4th quarter worth about $89,000. BNP Paribas Arbitrage SA increased its stake in Allakos by 4,853.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,220 shares of the company’s stock worth $130,000 after acquiring an additional 3,155 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Allakos in the 1st quarter worth about $142,000. SG Americas Securities LLC bought a new position in Allakos in the 1st quarter worth about $153,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in Allakos by 203.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,961 shares of the company’s stock worth $155,000 after acquiring an additional 1,984 shares during the last quarter. Institutional investors and hedge funds own 53.01% of the company’s stock.

About Allakos

Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

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