Allakos (NASDAQ:ALLK) Stock Price Down 3%

Allakos Inc. (NASDAQ:ALLK – Get Rating)’s stock price was down 3% during trading on Monday . The company traded as low as $7.40 and last traded at $7.51. Approximately 324,981 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 827,627 shares. The stock had previously closed at $7.74.

Allakos Price Performance

The stock’s 50 day moving average price is $7.64 and its 200 day moving average price is $5.92.

Allakos (NASDAQ:ALLK – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.25. On average, sell-side analysts anticipate that Allakos Inc. will post -5.27 earnings per share for the current year.

Institutional Trading of Allakos

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank raised its holdings in Allakos by 8.1% during the first quarter. Swiss National Bank now owns 77,100 shares of the company’s stock worth $439,000 after buying an additional 5,800 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Allakos by 258.1% during the first quarter. JPMorgan Chase & Co. now owns 535,368 shares of the company’s stock worth $3,052,000 after buying an additional 385,878 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Allakos by 27.7% during the first quarter. Bank of New York Mellon Corp now owns 181,550 shares of the company’s stock worth $1,034,000 after buying an additional 39,395 shares during the last quarter. BlackRock Inc. raised its holdings in Allakos by 8.4% during the first quarter. BlackRock Inc. now owns 2,911,899 shares of the company’s stock worth $16,599,000 after buying an additional 226,498 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Allakos during the first quarter worth $1,077,000. Institutional investors own 93.07% of the company’s stock.

About Allakos

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Allakos Inc, a clinical stage biopharmaceutical company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases. 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; a Phase II/III study for eosinophilic esophagitis; and a Phase II clinical study to atopic dermatitis and chronic spontaneous urticaria.