Allakos (NASDAQ:ALLK) Shares Gap Up to $7.15

Allakos Inc. (NASDAQ:ALLK – Get Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.15, but opened at $7.44. Allakos shares last traded at $7.29, with a volume of 7,101 shares.

Allakos Trading Up 0.3 %

The stock has a 50 day simple moving average of $7.45 and a 200-day simple moving average of $5.61. The firm has a market cap of $634.77 million, a P/E ratio of -1.10 and a beta of 0.51.

Allakos (NASDAQ:ALLK – Get Rating) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.25. As a group, equities analysts forecast that Allakos Inc. will post -5.18 earnings per share for the current fiscal year.

Institutional Trading of Allakos

A number of large investors have recently added to or reduced their stakes in ALLK. NEA Management Company LLC increased its position in shares of Allakos by 184.0% during the 3rd quarter. NEA Management Company LLC now owns 6,148,704 shares of the company’s stock valued at $33,867,000 after purchasing an additional 3,984,000 shares during the last quarter. Logos Global Management LP bought a new position in shares of Allakos during the 3rd quarter valued at approximately $36,332,000. BVF Inc. IL bought a new position in shares of Allakos during the 3rd quarter valued at approximately $30,642,000. Vivo Capital LLC bought a new position in shares of Allakos during the 3rd quarter valued at approximately $25,215,000. Finally, Vanguard Group Inc. increased its position in shares of Allakos by 85.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,112,494 shares of the company’s stock valued at $19,049,000 after purchasing an additional 1,434,364 shares during the last quarter. Institutional investors own 93.07% of the company’s stock.

Allakos Company Profile

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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.