Geode Capital Management LLC Grows Position in Allakos Inc. (NASDAQ:ALLK)

Geode Capital Management LLC raised its holdings in Allakos Inc. (NASDAQ:ALLK) by 8.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 988,171 shares of the company’s stock after acquiring an additional 80,763 shares during the quarter. Geode Capital Management LLC’s holdings in Allakos were worth $646,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in shares of Allakos in the 2nd quarter valued at about $25,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Allakos in the 2nd quarter valued at about $55,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allakos in the 2nd quarter valued at about $112,000. RBF Capital LLC raised its holdings in shares of Allakos by 45.9% in the 3rd quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after acquiring an additional 160,529 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in shares of 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 acquiring an additional 84,750 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

Allakos Trading Down 1.1 %

Shares of Allakos stock opened at $0.97 on Friday. The firm has a market capitalization of $86.56 million, a PE ratio of -0.48 and a beta of 0.86. The business’s 50-day moving average price is $1.14 and its 200-day moving average price is $0.90. Allakos Inc. has a 12 month low of $0.54 and a 12 month high of $3.21.

Allakos (NASDAQ:ALLK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. As a group, analysts predict that Allakos Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $3.00 price target on shares of Allakos in a report on Thursday, September 26th.

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.