Piper Sandler Downgrades Allakos (NASDAQ:ALLK) to Hold

Allakos (NASDAQ:ALLK) was downgraded by research analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

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

Allakos Stock Performance

ALLK stock opened at $0.26 on Monday. The stock’s 50 day simple moving average is $1.04 and its 200 day simple moving average is $0.90. Allakos has a fifty-two week low of $0.23 and a fifty-two week high of $1.69. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Equities analysts predict that Allakos will post -1.16 earnings per share for the current year.

Institutional Trading of Allakos

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in shares of Allakos in the second quarter worth approximately $25,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Allakos in the second quarter worth approximately $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos during the second quarter valued at approximately $112,000. RBF Capital LLC increased its position in shares of Allakos by 45.9% during the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after acquiring an additional 160,529 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Allakos by 11.9% during the third 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.

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.