Allakos (ALLK) Downgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research cut shares of Allakos (NASDAQ:ALLK) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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. “

Shares of ALLK opened at $36.70 on Friday. Allakos has a fifty-two week low of $26.00 and a fifty-two week high of $65.48.

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

Several institutional investors and hedge funds have recently made changes to their positions in ALLK. Capital Research Global Investors acquired a new stake in shares of Allakos during the third quarter worth about $144,164,000. NEA Management Company LLC acquired a new stake in shares of Allakos during the third quarter worth about $102,046,000. FMR LLC acquired a new stake in shares of Allakos during the third quarter worth about $92,063,000. Redmile Group LLC acquired a new stake in shares of Allakos during the third quarter worth about $65,681,000. Finally, Capital International Investors acquired a new stake in shares of Allakos during the third quarter worth about $37,447,000. Institutional investors and hedge funds own 40.31% of the company’s stock.

About Allakos

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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