Geode Capital Management LLC Purchases 80,763 Shares of Allakos Inc. (NASDAQ:ALLK)

Geode Capital Management LLC lifted its position in shares of Allakos Inc. (NASDAQ:ALLK) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 988,171 shares of the company’s stock after acquiring an additional 80,763 shares during the quarter. Geode Capital Management LLC owned approximately 1.11% of Allakos worth $646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. RBF Capital LLC grew its stake in shares of Allakos by 45.9% during the 3rd quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after acquiring an additional 160,529 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Allakos during the 3rd quarter worth $1,143,000. FMR LLC grew its stake in shares of Allakos by 14.6% during the 3rd quarter. FMR LLC now owns 5,370,247 shares of the company’s stock worth $3,508,000 after acquiring an additional 685,623 shares during the period. GSA Capital Partners LLP grew its stake in shares of Allakos by 11.9% during the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock worth $519,000 after acquiring an additional 84,750 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Allakos during the 2nd quarter worth $25,000. Institutional investors own 84.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and set a $3.00 price target on shares of Allakos in a research note on Thursday, September 26th.

Allakos Stock Performance

Shares of ALLK opened at $0.97 on Friday. The stock’s 50-day simple moving average is $1.14 and its 200 day simple moving average is $0.90. The stock has a market capitalization of $86.56 million, a price-to-earnings ratio of -0.48 and a beta of 0.86. Allakos Inc. has a 52-week low of $0.54 and a 52-week high of $3.21.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. On average, research analysts forecast that Allakos Inc. will post -1.16 earnings per share for the current fiscal year.

Allakos 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.