Allakos (NASDAQ:ALLK) Cut to Hold at Piper Sandler

Piper Sandler cut shares of Allakos (NASDAQ:ALLK) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, Citizens Jmp downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.00.

Allakos Stock Performance

NASDAQ ALLK opened at $0.25 on Monday. The firm’s 50 day moving average price is $1.02 and its 200-day moving average price is $0.90. Allakos has a 52-week low of $0.23 and a 52-week high of $1.69. The company has a market cap of $22.69 million, a PE 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. On average, analysts forecast that Allakos will post -1.16 earnings per share for the current fiscal year.

Institutional Trading of Allakos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in shares of Allakos during the second quarter worth about $25,000. Cubist Systematic Strategies LLC acquired a new stake in Allakos during the 2nd quarter worth approximately $55,000. Geode Capital Management LLC grew its stake in shares of Allakos by 8.9% in the 3rd quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock valued at $646,000 after purchasing an additional 80,763 shares during the last quarter. GSA Capital Partners LLP grew its position in Allakos by 11.9% in the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after buying an additional 84,750 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Allakos in the second quarter valued at about $112,000. Institutional investors and hedge funds own 84.64% of the company’s stock.

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.