Allakos Inc (NASDAQ:ALLK)’s share price rose 6.5% during mid-day trading on Friday . The company traded as high as $89.60 and last traded at $88.72, approximately 1,428,920 shares changed hands during trading. An increase of 198% from the average daily volume of 479,928 shares. The stock had previously closed at $83.34.
ALLK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Allakos from a “buy” rating to a “hold” rating in a research note on Friday. William Blair reaffirmed a “buy” rating on shares of Allakos in a report on Friday, August 9th.
The firm’s fifty day moving average price is $47.85 and its 200 day moving average price is $42.00.
In related news, Director John P. Mckearn sold 53,906 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $39.57, for a total transaction of $2,133,060.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Venture Fund (Ohi Rivervest II sold 93,735 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $39.83, for a total transaction of $3,733,465.05. The disclosure for this sale can be found here. Insiders sold a total of 186,373 shares of company stock worth $7,408,059 over the last ninety days. Insiders own 52.11% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in ALLK. Bank of Montreal Can purchased a new stake in Allakos during the second quarter worth $63,000. BNP Paribas Arbitrage SA boosted its holdings in Allakos by 4,853.8% during the first quarter. BNP Paribas Arbitrage SA now owns 3,220 shares of the company’s stock worth $130,000 after buying an additional 3,155 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Allakos during the first quarter worth $142,000. SG Americas Securities LLC purchased a new stake in Allakos during the first quarter worth $153,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Allakos by 203.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,961 shares of the company’s stock worth $155,000 after buying an additional 1,984 shares in the last quarter. 52.76% of the stock is currently owned by hedge funds and other institutional investors.
Allakos Company Profile (NASDAQ:ALLK)
Allakos Inc, a clinical stage biopharmaceutical company, focuses on developing therapeutic antibodies targeting allergic, inflammatory, and proliferative diseases. The company is developing AK002 for the treatment of eosinophilic gastritis and eosinophilic gastroenteritis, urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.
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