Allakos Inc. (NASDAQ:ALLK) Position Trimmed by Redmile Group LLC

Redmile Group LLC cut its stake in shares of Allakos Inc. (NASDAQ:ALLK) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,451,076 shares of the company’s stock after selling 219,371 shares during the quarter. Redmile Group LLC’s holdings in Allakos were worth $4,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALLK. Aristides Capital LLC bought a new stake in Allakos in the 4th quarter valued at about $153,000. BNP Paribas Financial Markets increased its stake in shares of Allakos by 1,041.1% in the first quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company’s stock valued at $259,000 after purchasing an additional 187,640 shares during the period. Pennant Investors LP acquired a new stake in shares of Allakos in the fourth quarter valued at approximately $508,000. GSA Capital Partners LLP bought a new stake in shares of Allakos during the first quarter valued at approximately $929,000. Finally, Platinum Investment Management Ltd. boosted its position in shares of Allakos by 84.6% during the first quarter. Platinum Investment Management Ltd. now owns 1,172,061 shares of the company’s stock worth $1,477,000 after buying an additional 537,038 shares during the period. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALLK has been the subject of several recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a research note on Wednesday, June 26th. Jefferies Financial Group reduced their price objective 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. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Allakos in a research note on Thursday, June 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1.67.

Allakos Trading Down 1.1 %

Shares of NASDAQ ALLK traded down $0.01 during mid-day trading on Monday, reaching $0.91. The company had a trading volume of 560,516 shares, compared to its average volume of 978,123. Allakos Inc. has a 1-year low of $0.68 and a 1-year high of $5.64. The company has a 50-day moving average price of $1.05 and a two-hundred day moving average price of $1.21. The stock has a market cap 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). On average, research analysts expect that Allakos Inc. will post -1.22 EPS for the current year.

Insider Buying and Selling

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