Allakos (ALLK) Stock Rating Upgraded by Zacks Investment Research

Allakos (NASDAQ:ALLK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $44.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.55% from the company’s current price.

According to Zacks, “Allakos Inc. is a clinical stage bio-technology company. It discovers and develops therapeutic antibodies for the treatment of allergic, inflammatory and proliferative diseases. Allakos Inc. is based in CA, United States. “

NASDAQ ALLK opened at $38.08 on Tuesday. Allakos has a fifty-two week low of $26.00 and a fifty-two week high of $65.48.

In other news, Director John P. Mckearn sold 142,219 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $34.49, for a total value of $4,905,133.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Venture Fund (Ohi Rivervest II sold 52,837 shares of the business’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $42.63, for a total value of $2,252,441.31. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC purchased a new stake in shares of Allakos in the third quarter valued at $65,681,000. NEA Management Company LLC purchased a new stake in shares of Allakos in the third quarter valued at $102,046,000. Alliancebernstein L.P. purchased a new stake in shares of Allakos in the third quarter valued at $14,473,000. Vanguard Group Inc purchased a new stake in shares of Allakos in the third quarter valued at $30,698,000. Finally, Legal & General Group Plc purchased a new stake in shares of Allakos in the third quarter valued at $56,000. 41.21% of the stock is owned by institutional investors.

Allakos Company Profile

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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