Shares of Allakos Inc. (NASDAQ:ALLK) gapped up before the market opened on Thursday . The stock had previously closed at $106.98, but opened at $110.80. Allakos shares last traded at $108.08, with a volume of 1,306 shares trading hands.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Allakos from a “sell” rating to a “hold” rating in a research note on Thursday, March 4th. SVB Leerink started coverage on shares of Allakos in a research note on Monday, December 21st. They issued an “outperform” rating for the company. Bank of America started coverage on shares of Allakos in a research note on Friday, January 15th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of Allakos in a research note on Wednesday, February 24th. They set an “overweight” rating and a $218.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Allakos presently has a consensus rating of “Buy” and an average target price of $167.67.
The firm’s 50 day moving average is $119.91 and its 200-day moving average is $113.83. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -39.04 and a beta of 1.02.
In other news, CFO Adam Tomasi sold 3,189 shares of Allakos stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $113.56, for a total transaction of $362,142.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Peter A. Hudson sold 2,200 shares of the business’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $124.75, for a total transaction of $274,450.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,460 shares of company stock worth $24,563,967. 44.77% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in shares of Allakos by 11.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 985 shares of the company’s stock worth $138,000 after acquiring an additional 100 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in Allakos during the first quarter worth $142,000. Penserra Capital Management LLC boosted its holdings in Allakos by 190.9% during the fourth quarter. Penserra Capital Management LLC now owns 1,210 shares of the company’s stock worth $169,000 after purchasing an additional 794 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Allakos by 66.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 4,931 shares of the company’s stock worth $199,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Capital International Ltd. acquired a new position in Allakos during the fourth quarter worth $224,000. 65.35% of the stock is owned by hedge funds and other institutional investors.
Allakos Company Profile (NASDAQ:ALLK)
Allakos Inc operates as a clinical stage biopharmaceutical company. The company is developing antolimab (AK002) for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, chronic urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis. Allakos Inc was founded in 2012 and is headquartered in Redwood City, California.
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