Allianz Asset Management GmbH acquired a new position in Allakos Inc (NASDAQ:ALLK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,259 shares of the company’s stock, valued at approximately $531,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new position in Allakos during the second quarter valued at $281,000. Alps Advisors Inc. purchased a new position in Allakos during the second quarter valued at $3,894,000. MetLife Investment Advisors LLC grew its stake in Allakos by 68.7% during the first quarter. MetLife Investment Advisors LLC now owns 6,818 shares of the company’s stock valued at $276,000 after acquiring an additional 2,776 shares in the last quarter. FMR LLC grew its stake in Allakos by 59.3% during the first quarter. FMR LLC now owns 3,975,437 shares of the company’s stock valued at $161,005,000 after acquiring an additional 1,479,255 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Allakos by 83.7% during the first quarter. Victory Capital Management Inc. now owns 45,560 shares of the company’s stock valued at $1,845,000 after acquiring an additional 20,760 shares in the last quarter. 58.38% of the stock is owned by hedge funds and other institutional investors.
ALLK has been the subject of several research analyst reports. Zacks Investment Research cut shares of Allakos from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. William Blair reissued a “buy” rating on shares of Allakos in a research note on Friday, August 9th.
Shares of NASDAQ:ALLK opened at $83.64 on Friday. Allakos Inc has a 52 week low of $29.34 and a 52 week high of $92.84. The stock has a market capitalization of $3.38 billion, a P/E ratio of -38.02 and a beta of -1.21. The firm has a fifty day simple moving average of $73.02 and a two-hundred day simple moving average of $48.28.
Allakos (NASDAQ:ALLK) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. On average, equities research analysts forecast that Allakos Inc will post -1.83 earnings per share for the current year.
Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.
Further Reading: When can a hold rating present a buying opportunity?
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