Allspring Global Investments Holdings LLC Invests $162,000 in Allakos Inc. (NASDAQ:ALLK)

Allspring Global Investments Holdings LLC purchased a new position in shares of Allakos Inc. (NASDAQ:ALLK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 37,048 shares of the company’s stock, valued at approximately $162,000.

A number of other hedge funds have also made changes to their positions in ALLK. Vanguard Group Inc. grew its position in shares of Allakos by 85.5% during the third quarter. Vanguard Group Inc. now owns 3,112,494 shares of the company’s stock worth $19,049,000 after buying an additional 1,434,364 shares in the last quarter. BVF Inc. IL grew its position in shares of Allakos by 21.0% during the first quarter. BVF Inc. IL now owns 6,060,247 shares of the company’s stock worth $26,968,000 after buying an additional 1,053,326 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Allakos by 258.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,096 shares of the company’s stock worth $5,741,000 after buying an additional 725,818 shares in the last quarter. BlackRock Inc. grew its position in shares of Allakos by 33.7% during the third quarter. BlackRock Inc. now owns 2,162,638 shares of the company’s stock worth $13,234,000 after buying an additional 545,508 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Allakos by 1,585.3% during the first quarter. Dimensional Fund Advisors LP now owns 557,173 shares of the company’s stock worth $2,479,000 after buying an additional 524,113 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company’s stock.

Allakos Price Performance

Shares of ALLK opened at $1.80 on Tuesday. The business’s fifty day moving average price is $2.17 and its 200 day moving average price is $3.64. Allakos Inc. has a 12-month low of $1.70 and a 12-month high of $8.73. The stock has a market capitalization of $156.45 million, a PE ratio of -0.93 and a beta of 0.64.

Analyst Ratings Changes

Separately, JMP Securities started coverage on Allakos in a research note on Wednesday, September 27th. They set an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Allakos currently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Allakos Profile

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.