Allakos (NASDAQ:ALLK) Downgraded to Hold Rating by Piper Sandler

Piper Sandler downgraded 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 lowered Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.00.

Allakos Stock Up 9.1 %

ALLK opened at $0.26 on Monday. Allakos has a 52-week low of $0.23 and a 52-week high of $1.69. The company has a 50 day moving average of $1.04 and a two-hundred day moving average of $0.90. The company has a market cap of $23.04 million, a P/E ratio of -0.13 and a beta of 0.86.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. Research analysts anticipate that Allakos will post -1.16 earnings per share for the current year.

Institutional Trading of Allakos

A number of hedge funds and other institutional investors have recently modified their holdings of ALLK. Point72 DIFC Ltd acquired a new stake in Allakos during the 2nd quarter valued at approximately $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Allakos during the second quarter worth approximately $55,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Allakos during the second quarter worth approximately $112,000. RBF Capital LLC increased its stake in shares of Allakos by 45.9% in the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock worth $333,000 after buying an additional 160,529 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Allakos by 11.9% during the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after acquiring an additional 84,750 shares during the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

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.