Allakos (NASDAQ:ALLK – Get Rating) was downgraded by stock analysts at Sumitomo Mitsui Financial Group from a “neutral” rating to an “underperform” rating in a report released on Monday, Marketbeat Ratings reports.
Separately, Cantor Fitzgerald decreased their price objective on shares of Allakos from $10.00 to $7.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.83.
Allakos Trading Up 3.2 %
Allakos stock opened at $5.06 on Monday. Allakos has a 1-year low of $2.54 and a 1-year high of $11.73. The firm has a market capitalization of $277.51 million, a PE ratio of -0.68 and a beta of 0.66. The firm’s 50 day simple moving average is $3.88 and its 200 day simple moving average is $4.11.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new stake in shares of Allakos during the first quarter worth about $33,000. Sei Investments Co. bought a new position in shares of Allakos during the second quarter valued at approximately $46,000. Bank of Nova Scotia purchased a new stake in Allakos in the first quarter worth $69,000. Quantbot Technologies LP bought a new stake in Allakos in the first quarter valued at $96,000. Finally, Ensign Peak Advisors Inc increased its position in Allakos by 163.6% during the 1st quarter. Ensign Peak Advisors Inc now owns 17,080 shares of the company’s stock valued at $97,000 after purchasing an additional 10,600 shares during the period. 66.67% of the stock is owned by hedge funds and other institutional investors.
Allakos Inc, a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. The company's lead monoclonal antibody is lirentelimab (AK002), which is in a Phase III study for the treatment of eosinophilic gastritis and/or eosinophilic duodenitis; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spontaneous urticaria.
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