Allakos Inc. (NASDAQ:ALLK) Director Buys $19,999,680.00 in Stock

Allakos Inc. (NASDAQ:ALLKGet Rating) Director Paul Edward Walker purchased 3,984,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was purchased at an average price of $5.02 per share, for a total transaction of $19,999,680.00. Following the acquisition, the director now owns 3,386,400 shares of the company’s stock, valued at approximately $16,999,728. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Allakos Stock Performance

Shares of Allakos stock traded down $0.05 on Friday, hitting $5.25. The company had a trading volume of 1,138,191 shares, compared to its average volume of 1,639,264. The stock has a market capitalization of $287.93 million, a price-to-earnings ratio of -0.71 and a beta of 0.66. Allakos Inc. has a 1 year low of $2.54 and a 1 year high of $11.73. The stock has a 50 day moving average of $4.15 and a 200-day moving average of $4.12.

Allakos (NASDAQ:ALLKGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.04). Equities analysts anticipate that Allakos Inc. will post -6.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Sumitomo Mitsui Financial Group lowered Allakos from a “neutral” rating to an “underperform” rating in a report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Allakos has an average rating of “Hold” and a consensus target price of $66.80.

Institutional Trading of Allakos

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Allakos by 8.4% during the first quarter. BlackRock Inc. now owns 2,911,899 shares of the company’s stock valued at $16,599,000 after acquiring an additional 226,498 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Allakos by 1,229.5% during the second quarter. Federated Hermes Inc. now owns 1,761,867 shares of the company’s stock valued at $5,515,000 after acquiring an additional 1,629,344 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Allakos by 258.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,007,096 shares of the company’s stock valued at $5,741,000 after acquiring an additional 725,818 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Allakos by 5,817.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 833,547 shares of the company’s stock valued at $8,160,000 after acquiring an additional 819,460 shares during the last quarter. Finally, Commodore Capital LP purchased a new stake in shares of Allakos during the fourth quarter valued at approximately $7,985,000. 66.67% of the stock is owned by hedge funds and other institutional investors.

About Allakos

(Get Rating)

Allakos Inc, a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. The company's lead monoclonal antibody is lirentelimab (AK002), which is in a Phase III study for the treatment of eosinophilic gastritis and/or eosinophilic duodenitis; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spontaneous urticaria.

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