Arizona State Retirement System Takes Position in Allakos Inc. (NASDAQ:ALLK)

Arizona State Retirement System bought a new position in shares of Allakos Inc. (NASDAQ:ALLK – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,930 shares of the company’s stock, valued at approximately $151,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NEA Management Company LLC lifted its position in Allakos by 184.0% during the third quarter. NEA Management Company LLC now owns 6,148,704 shares of the company’s stock worth $33,867,000 after buying an additional 3,984,000 shares in the last quarter. Logos Global Management LP acquired a new position in Allakos in the 3rd quarter valued at about $36,332,000. BVF Inc. IL acquired a new position in Allakos in the 3rd quarter valued at about $30,642,000. Vivo Capital LLC acquired a new position in Allakos in the 3rd quarter valued at about $25,215,000. Finally, Vanguard Group Inc. raised its stake in shares of Allakos by 85.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,112,494 shares of the company’s stock worth $19,049,000 after buying an additional 1,434,364 shares in the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.

Allakos Price Performance

ALLK opened at $4.81 on Friday. Allakos Inc. has a one year low of $2.54 and a one year high of $8.73. The company’s 50 day simple moving average is $4.45 and its 200-day simple moving average is $6.18. The stock has a market capitalization of $416.35 million, a P/E ratio of -1.99 and a beta of 0.45.

Allakos (NASDAQ:ALLK – Get Rating) last posted its earnings results on Tuesday, May 9th. The company reported ($0.49) earnings per share for the quarter, hitting the consensus estimate of ($0.49). As a group, analysts anticipate that Allakos Inc. will post -1.99 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Allakos in a research note on Tuesday, March 7th. Piper Jaffray Companies initiated coverage on Allakos in a research report on Tuesday, March 7th. They set an “overweight” rating and a $22.00 target price on the stock. Jefferies Financial Group raised Allakos from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.00 to $9.00 in a research report on Thursday, May 11th. Piper Sandler assumed coverage on Allakos in a report on Tuesday, March 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Morgan Stanley lifted their target price on Allakos from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Allakos Profile

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Allakos, Inc engages in the development of therapeutic antibodies. Its primary product is AK002, a monoclonal antibody used for the treatment of various eosinophil and mast cell related diseases such as eosinophilic gastritis, urticaria, severe allergic conjunctivitis, and indolent systemic mastocytosis.