Piper Sandler Downgrades Allakos (NASDAQ:ALLK) to Hold

Piper Sandler downgraded shares of Allakos (NASDAQ:ALLK) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

Separately, Citizens Jmp cut Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday. Four 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, Allakos currently has a consensus rating of “Hold” and a consensus target price of $2.00.

Allakos Stock Performance

ALLK opened at $0.25 on Monday. Allakos has a twelve month low of $0.23 and a twelve month high of $1.69. The business has a 50 day moving average price of $1.02 and a 200 day moving average price of $0.90. The firm has a market cap of $22.69 million, a P/E ratio of -0.13 and a beta of 0.86.

Allakos (NASDAQ:ALLK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. As a group, analysts anticipate that Allakos will post -1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allakos

Large investors have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in Allakos in the second quarter valued at about $25,000. Cubist Systematic Strategies LLC acquired a new position in Allakos in the second quarter valued at approximately $55,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Allakos during the second quarter worth $112,000. RBF Capital LLC grew its stake in shares of Allakos by 45.9% in the 3rd quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after buying an additional 160,529 shares during the period. Finally, GSA Capital Partners LLP raised its position in shares of Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock worth $519,000 after purchasing an additional 84,750 shares during the period. Institutional investors own 84.64% of the company’s stock.

About Allakos

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.