Renaissance Technologies LLC Trims Holdings in Allakos Inc. (NASDAQ:ALLK)

Renaissance Technologies LLC lowered its position in Allakos Inc. (NASDAQ:ALLK) by 34.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 562,411 shares of the company’s stock after selling 293,307 shares during the period. Renaissance Technologies LLC owned approximately 0.64% of Allakos worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALLK. BNP Paribas Financial Markets lifted its stake in Allakos by 1,041.1% during the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after acquiring an additional 187,640 shares during the period. Acadian Asset Management LLC boosted its holdings in Allakos by 32.4% in the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock valued at $1,761,000 after purchasing an additional 431,175 shares during the last quarter. Platinum Investment Management Ltd. grew its position in Allakos by 84.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock worth $1,477,000 after purchasing an additional 537,038 shares during the period. Vanguard Group Inc. grew its position in Allakos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after purchasing an additional 539,087 shares during the period. Finally, Ikarian Capital LLC raised its stake in shares of Allakos by 293.4% during the 1st quarter. Ikarian Capital LLC now owns 932,675 shares of the company’s stock valued at $1,175,000 after buying an additional 695,619 shares during the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Allakos Price Performance

Shares of NASDAQ ALLK opened at $0.65 on Thursday. The firm has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $0.95. The stock has a market capitalization of $57.56 million, a price-to-earnings ratio of -0.27 and a beta of 1.16. Allakos Inc. has a 52 week low of $0.54 and a 52 week high of $3.41.

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

Analyst Ratings Changes

Several brokerages recently weighed in on ALLK. Cantor Fitzgerald reiterated a “neutral” rating on shares of Allakos in a research report on Thursday, June 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their price objective 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.67.

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.