Fmr LLC Buys 685,623 Shares of Allakos Inc. (NASDAQ:ALLK)

FMR LLC boosted its stake in shares of Allakos Inc. (NASDAQ:ALLK - Free Report) by 14.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,370,247 shares of the company's stock after purchasing an additional 685,623 shares during the period. FMR LLC owned about 6.01% of Allakos worth $3,508,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ALLK. Vanguard Group Inc. lifted its stake in shares of Allakos by 16.6% during the 1st quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company's stock valued at $4,781,000 after buying an additional 539,087 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Allakos by 32.4% in the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company's stock valued at $1,761,000 after acquiring an additional 431,175 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Allakos by 11.9% in the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company's stock worth $519,000 after acquiring an additional 84,750 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos during the second quarter worth about $112,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Allakos during the 2nd quarter valued at approximately $55,000. Institutional investors own 84.64% of the company's stock.

Allakos Price Performance

Shares of ALLK stock traded down $0.02 during trading hours on Friday, hitting $1.05. The stock had a trading volume of 303,968 shares, compared to its average volume of 804,469. The stock's 50-day moving average price is $1.05 and its two-hundred day moving average price is $0.91. Allakos Inc. has a one year low of $0.54 and a one year high of $3.41. The stock has a market capitalization of $93.81 million, a price-to-earnings ratio of -0.52 and a beta of 0.92.

Allakos (NASDAQ:ALLK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.01. As a group, equities research analysts predict that Allakos Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a "market outperform" rating and issued a $3.00 price target on shares of Allakos in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $1.67.

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.