Allakos Inc (NASDAQ:ALLK) shares dropped 10.5% on Monday . The company traded as low as $35.44 and last traded at $35.87. Approximately 533,862 shares changed hands during trading, an increase of 41% from the average daily volume of 379,142 shares. The stock had previously closed at $40.06.
Separately, Zacks Investment Research lowered Allakos from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th.
Allakos (NASDAQ:ALLK) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). On average, analysts anticipate that Allakos Inc will post -1.22 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Redmile Group LLC purchased a new position in shares of Allakos in the 3rd quarter worth $65,681,000. NEA Management Company LLC purchased a new position in shares of Allakos in the 3rd quarter worth $102,046,000. Alliancebernstein L.P. purchased a new position in shares of Allakos in the 3rd quarter worth $14,473,000. Capital International Investors purchased a new position in shares of Allakos in the 3rd quarter worth $37,447,000. Finally, Vanguard Group Inc purchased a new position in shares of Allakos in the 3rd quarter worth $30,698,000. 37.77% of the stock is currently owned by institutional investors and hedge funds.
About Allakos (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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