Allakos Inc. (NASDAQ:ALLK) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. cut its position in shares of Allakos Inc. (NASDAQ:ALLK) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 815,956 shares of the company’s stock after selling 244,183 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Allakos were worth $987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. RBF Capital LLC lifted its holdings in 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 buying an additional 160,529 shares during the last quarter. GSA Capital Partners LLP increased 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 acquiring an additional 84,750 shares during the period. Geode Capital Management LLC increased its position in 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 acquiring an additional 80,763 shares during the period. Point72 Asset Management L.P. acquired a new stake in Allakos in the 3rd quarter valued at approximately $1,143,000. Finally, Alta Partners Management Company L.P. acquired a new stake in Allakos in the 4th quarter valued at approximately $3,081,000. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citizens Jmp lowered Allakos from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler lowered Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.00.

Allakos Trading Up 0.5 %

NASDAQ ALLK opened at $0.26 on Wednesday. Allakos Inc. has a 1-year low of $0.23 and a 1-year high of $1.56. The stock’s 50 day moving average is $0.45 and its two-hundred day moving average is $0.78. The company has a market capitalization of $23.02 million, a price-to-earnings ratio of -0.13 and a beta of 0.72.

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.