Allakos Inc. (NASDAQ:ALLK) Shares Purchased by Tang Capital Management LLC

Tang Capital Management LLC boosted its position in Allakos Inc. (NASDAQ:ALLK) by 736.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 378,552 shares of the company’s stock after purchasing an additional 333,290 shares during the quarter. Tang Capital Management LLC owned about 0.42% of Allakos worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ALLK. ADAR1 Capital Management LLC acquired a new position in Allakos in the 4th quarter valued at about $75,000. Jane Street Group LLC raised its stake in Allakos by 92.6% in the 4th quarter. Jane Street Group LLC now owns 101,097 shares of the company’s stock valued at $122,000 after purchasing an additional 48,602 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Allakos by 25.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 209,900 shares of the company’s stock valued at $254,000 after buying an additional 42,500 shares during the period. Renaissance Technologies LLC grew its holdings in Allakos by 16.3% in the 4th quarter. Renaissance Technologies LLC now owns 844,233 shares of the company’s stock valued at $1,022,000 after buying an additional 118,394 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Allakos by 20.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 936,797 shares of the company’s stock valued at $1,134,000 after buying an additional 159,095 shares during the period. Institutional investors and hedge funds own 84.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Citizens Jmp cut Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler cut Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.00.

Allakos Stock Performance

Shares of NASDAQ:ALLK opened at $0.33 on Monday. Allakos Inc. has a 1 year low of $0.22 and a 1 year high of $1.56. The stock has a market capitalization of $29.74 million, a P/E ratio of -0.16 and a beta of 0.15. The stock has a 50-day simple moving average of $0.30 and a 200-day simple moving average of $0.64.

Allakos 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.