Point72 Asset Management L.P. Invests $1.14 Million in Allakos Inc. (NASDAQ:ALLK)

Point72 Asset Management L.P. purchased a new stake in Allakos Inc. (NASDAQ:ALLK) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,750,000 shares of the company’s stock, valued at approximately $1,143,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALLK. Vanguard Group Inc. boosted its position 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 valued at $4,781,000 after acquiring an additional 539,087 shares during the period. Acadian Asset Management LLC raised its stake in Allakos by 32.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,762,814 shares of the company’s stock worth $1,761,000 after purchasing an additional 431,175 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Allakos by 11.9% in the 3rd quarter. GSA Capital Partners LLP now owns 794,896 shares of the company’s stock valued at $519,000 after purchasing an additional 84,750 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Allakos during the 2nd quarter worth approximately $55,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Allakos during the second quarter worth approximately $112,000. 84.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities reiterated a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Allakos presently has an average rating of “Hold” and an average target price of $1.67.

Allakos Stock Down 6.1 %

ALLK opened at $1.08 on Wednesday. The stock has a market capitalization of $96.49 million, a price-to-earnings ratio of -0.53 and a beta of 0.92. Allakos Inc. has a twelve month low of $0.54 and a twelve month high of $3.41. The company has a 50-day simple moving average of $1.02 and a 200 day simple moving average of $0.91.

Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Sell-side analysts anticipate that Allakos Inc. will post -1.16 EPS for the current fiscal year.

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.