Allakos (NASDAQ:ALLK) Receives Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Allakos (NASDAQ:ALLK - Free Report) in a research note released on Thursday morning, Benzinga reports. JMP Securities currently has a $3.00 price objective on the stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group decreased 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. Cantor Fitzgerald restated a neutral rating on shares of Allakos in a report 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's stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $1.67.

Allakos Stock Performance

Shares of Allakos stock remained flat at $0.58 during trading on Thursday. 106,167 shares of the stock were exchanged, compared to its average volume of 833,737. The firm has a market cap of $51.13 million, a price-to-earnings ratio of -0.23 and a beta of 1.16. Allakos has a one year low of $0.54 and a one year high of $3.41. The stock's 50-day moving average is $0.71 and its two-hundred day moving average is $1.00.

Allakos (NASDAQ:ALLK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.32) by $0.02. On average, analysts predict that Allakos will post -1.2 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Allakos

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aristides Capital LLC bought a new stake in shares of Allakos in the 4th quarter worth $153,000. Pennant Investors LP purchased a new position in Allakos in the 4th quarter worth about $508,000. BNP Paribas Financial Markets lifted its stake in Allakos by 1,041.1% during the 1st quarter. BNP Paribas Financial Markets now owns 205,663 shares of the company's stock valued at $259,000 after acquiring an additional 187,640 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Allakos during the 1st quarter valued at about $929,000. Finally, Vanguard Group Inc. grew its stake in shares of Allakos by 16.6% in the first quarter. Vanguard Group Inc. now owns 3,794,729 shares of the company's stock worth $4,781,000 after acquiring an additional 539,087 shares during the period. Institutional investors own 84.64% of the company's stock.

Allakos Company 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.