Rhumbline Advisers Sells 65,442 Shares of Allakos Inc. (NASDAQ:ALLK)

Rhumbline Advisers decreased its stake in shares of Allakos Inc. (NASDAQ:ALLK) by 63.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,096 shares of the company’s stock after selling 65,442 shares during the period. Rhumbline Advisers’ holdings in Allakos were worth $38,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BVF Inc. IL lifted its position in shares of Allakos by 93.5% in the first quarter. BVF Inc. IL now owns 16,552,417 shares of the company’s stock valued at $20,856,000 after buying an additional 8,000,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Allakos by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock valued at $4,781,000 after buying an additional 539,087 shares during the period. Opaleye Management Inc. acquired a new stake in Allakos in the first quarter valued at $3,068,000. Acadian Asset Management LLC lifted its stake in shares of Allakos by 1,753.1% in the first quarter. Acadian Asset Management LLC now owns 1,331,639 shares of the company’s stock worth $1,677,000 after acquiring an additional 1,259,778 shares during the period. Finally, Platinum Investment Management Ltd. raised its stake in Allakos by 84.6% during the first quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock worth $1,477,000 after buying an additional 537,038 shares during the last quarter. 84.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALLK has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Allakos in a report on Thursday, June 20th. Jefferies Financial Group cut their price target on shares of Allakos from $1.50 to $1.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 price objective on shares of Allakos in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Allakos has an average rating of “Hold” and an average price target of $1.67.

Allakos Price Performance

Shares of Allakos stock opened at $0.62 on Wednesday. The stock has a fifty day moving average price of $0.70 and a 200-day moving average price of $0.98. The firm has a market cap of $55.25 million, a PE ratio of -0.25 and a beta of 1.16. Allakos Inc. has a 1 year low of $0.54 and a 1 year high of $3.41.

Allakos (NASDAQ:ALLK) last released its earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.02. As a group, equities analysts anticipate that Allakos Inc. will post -1.2 EPS for the current fiscal year.

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.