Rhumbline Advisers reduced its holdings in Allakos Inc. (NASDAQ:ALLK) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,703 shares of the company’s stock after selling 3,167 shares during the quarter. Rhumbline Advisers owned 0.05% of Allakos worth $3,295,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALLK. Marshall Wace LLP bought a new stake in shares of Allakos in the 1st quarter worth approximately $355,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Allakos by 66.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 4,931 shares of the company’s stock valued at $199,000 after acquiring an additional 1,970 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Allakos during the first quarter valued at approximately $142,000. Morgan Stanley raised its holdings in shares of Allakos by 62.9% during the first quarter. Morgan Stanley now owns 48,887 shares of the company’s stock valued at $2,174,000 after acquiring an additional 18,878 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Allakos by 11.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 985 shares of the company’s stock valued at $138,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 72.92% of the company’s stock.
Shares of ALLK opened at $92.38 on Friday. The company’s 50 day moving average is $102.40. Allakos Inc. has a 52 week low of $65.50 and a 52 week high of $157.98. The stock has a market capitalization of $4.95 billion, a P/E ratio of -25.95 and a beta of 0.92.
ALLK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Allakos from a “hold” rating to a “sell” rating in a report on Friday, May 14th. HC Wainwright initiated coverage on shares of Allakos in a report on Tuesday, May 18th. They set a “buy” rating and a $230.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Allakos in a report on Wednesday, February 24th. They set an “overweight” rating and a $218.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Allakos has an average rating of “Buy” and an average target price of $183.25.
In other Allakos news, insider Henrik S. Md Rasmussen sold 2,435 shares of the business’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $89.60, for a total value of $218,176.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Tomasi sold 2,487 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $92.03, for a total transaction of $228,878.61. The disclosure for this sale can be found here. Insiders sold 229,875 shares of company stock valued at $25,016,139 over the last three months. Insiders own 34.45% of the company’s stock.
Allakos Inc operates as a clinical stage biopharmaceutical company. 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; and a Phase II/III study for the treatment of eosinophilic esophagitis.
See Also: Dollar Cost Averaging
Want to see what other hedge funds are holding ALLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allakos Inc. (NASDAQ:ALLK).
Receive News & Ratings for Allakos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allakos and related companies with MarketBeat.com's FREE daily email newsletter.