1,750,000 Shares in Allakos Inc. (NASDAQ:ALLK) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Allakos Inc. (NASDAQ:ALLK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,750,000 shares of the company's stock, valued at approximately $1,143,000. Point72 Asset Management L.P. owned approximately 1.96% of Allakos at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Allakos during the second quarter worth about $25,000. Cubist Systematic Strategies LLC acquired a new position in shares of Allakos during the 2nd quarter worth approximately $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos in the second quarter valued at approximately $112,000. GSA Capital Partners LLP lifted its position in Allakos by 11.9% during the third quarter. GSA Capital Partners LLP now owns 794,896 shares of the company's stock worth $519,000 after buying an additional 84,750 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Allakos by 32.4% during the second quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company's stock worth $1,761,000 after buying an additional 431,175 shares during the last quarter. Hedge funds and other institutional investors own 84.64% of the company's stock.

Allakos Trading Down 2.8 %

NASDAQ:ALLK traded down $0.03 during trading hours on Wednesday, hitting $1.05. The company's stock had a trading volume of 169,688 shares, compared to its average volume of 807,430. Allakos Inc. has a 52-week low of $0.54 and a 52-week high of $3.41. The stock has a fifty day moving average of $1.02 and a 200-day moving average of $0.91. The stock has a market capitalization of $93.81 million, a P/E ratio of -0.53 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 the consensus estimate of ($0.22) by $0.01. On average, sell-side analysts forecast that Allakos Inc. will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

Separately, JMP Securities reissued a "market outperform" rating and set a $3.00 price target on shares of Allakos in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Allakos presently has an average rating of "Hold" and an average target price of $1.67.

About Allakos

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.