Redmile Group LLC Trims Stock Holdings in Allakos Inc. (NASDAQ:ALLK)

Redmile Group LLC cut its position in Allakos Inc. (NASDAQ:ALLK) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,451,076 shares of the company’s stock after selling 219,371 shares during the period. Redmile Group LLC owned about 3.90% of Allakos worth $4,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ALLK. Aristides Capital LLC purchased a new stake in Allakos in the 4th quarter worth $153,000. Pennant Investors LP bought a new stake in Allakos in the fourth quarter worth about $508,000. BNP Paribas Financial Markets boosted its holdings in Allakos by 1,041.1% during the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after acquiring an additional 187,640 shares during the period. GSA Capital Partners LLP bought a new position in shares of Allakos in the first quarter worth about $929,000. Finally, Vanguard Group Inc. increased its position in shares of Allakos by 16.6% during the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company’s stock worth $4,781,000 after acquiring an additional 539,087 shares during the period. 84.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ALLK shares. JMP Securities reissued a “market outperform” rating and set a $3.00 price target on shares of Allakos in a research report on Wednesday, June 26th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Allakos in a research report on Thursday, June 20th. Finally, Jefferies Financial Group decreased their price target on shares of Allakos from $1.50 to $1.00 and set a “hold” rating for the company in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.67.

Allakos Stock Performance

Allakos stock traded down $0.01 during midday trading on Monday, hitting $0.91. 560,516 shares of the company were exchanged, compared to its average volume of 978,123. Allakos Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $5.64. The business has a fifty day simple moving average of $1.05 and a two-hundred day simple moving average of $1.21. The firm has a market capitalization of $80.15 million, a PE ratio of -0.37 and a beta of 0.88.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.09). As a group, equities analysts expect that Allakos Inc. will post -1.22 earnings per share for the current year.

Insider Activity at Allakos

In other news, CFO Harlan Baird Radford sold 87,064 shares of Allakos stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $1.01, for a total value of $87,934.64. Following the sale, the chief financial officer now directly owns 204,390 shares of the company’s stock, valued at $206,433.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.12% of the stock is owned by corporate insiders.

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.