2,546,147 Shares in Allakos Inc. (NASDAQ:ALLK) Bought by Alta Partners Management Company L.P.

Alta Partners Management Company L.P. acquired a new position in shares of Allakos Inc. (NASDAQ:ALLK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,546,147 shares of the company’s stock, valued at approximately $3,081,000. Allakos accounts for 4.9% of Alta Partners Management Company L.P.’s portfolio, making the stock its 3rd largest position. Alta Partners Management Company L.P. owned about 2.85% of Allakos as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Allakos by 8.9% during the third quarter. Geode Capital Management LLC now owns 988,171 shares of the company’s stock worth $646,000 after acquiring an additional 80,763 shares during the period. RBF Capital LLC grew its position in Allakos by 45.9% in the third quarter. RBF Capital LLC now owns 510,529 shares of the company’s stock valued at $333,000 after purchasing an additional 160,529 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Allakos in the third quarter valued at $1,143,000. FMR LLC grew its position in Allakos by 14.6% in the third quarter. FMR LLC now owns 5,370,247 shares of the company’s stock valued at $3,508,000 after purchasing an additional 685,623 shares in the last quarter. Finally, GSA Capital Partners LLP grew its position in Allakos by 11.9% in the third 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 in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALLK shares. Piper Sandler downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Citizens Jmp downgraded shares of Allakos from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.00.

Allakos Price Performance

Shares of ALLK opened at $0.28 on Friday. The firm has a 50-day moving average of $0.68 and a 200-day moving average of $0.82. Allakos Inc. has a one year low of $0.23 and a one year high of $1.69. The company has a market cap of $25.00 million, a PE ratio of -0.14 and a beta of 0.78.

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.