Cubist Systematic Strategies LLC Makes New Investment in Allakos Inc. (NASDAQ:ALLK)

Cubist Systematic Strategies LLC purchased a new position in shares of Allakos Inc. (NASDAQ:ALLK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 55,486 shares of the company’s stock, valued at approximately $55,000. Cubist Systematic Strategies LLC owned 0.06% of Allakos as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Allakos during the 2nd quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Allakos in the 2nd quarter valued at about $112,000. BNP Paribas Financial Markets lifted its holdings in shares of Allakos by 1,041.1% in the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after buying an additional 187,640 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Allakos in the 1st quarter valued at about $929,000. Finally, Ikarian Capital LLC lifted its holdings in shares of Allakos by 293.4% in 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 period. Institutional investors and hedge funds own 84.64% of the company’s stock.

Allakos Stock Up 4.2 %

Shares of Allakos stock opened at $0.66 on Thursday. Allakos Inc. has a twelve month low of $0.54 and a twelve month high of $3.41. The business has a 50-day moving average price of $0.65 and a 200 day moving average price of $0.93. The firm has a market cap of $58.30 million, a PE ratio of -0.27 and a beta of 1.16.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. On average, sell-side analysts expect that Allakos Inc. will post -1.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALLK shares. Jefferies Financial Group decreased their price objective on Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Cantor Fitzgerald reissued a “neutral” rating on shares of Allakos in a report on Thursday, June 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $3.00 price objective on shares of Allakos in a report on Thursday, September 26th. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $1.67.

Allakos Company Profile

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.