Tang Capital Management LLC Grows Holdings in Allakos Inc. (NASDAQ:ALLK)

Tang Capital Management LLC grew its holdings in shares of Allakos Inc. (NASDAQ:ALLK) by 736.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 378,552 shares of the company’s stock after acquiring an additional 333,290 shares during the period. Tang Capital Management LLC’s holdings in Allakos were worth $458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALLK. Bridgeway Capital Management LLC raised its position in shares of Allakos by 25.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 209,900 shares of the company’s stock valued at $254,000 after acquiring an additional 42,500 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Allakos by 16.3% during the 4th quarter. Renaissance Technologies LLC now owns 844,233 shares of the company’s stock valued at $1,022,000 after acquiring an additional 118,394 shares in the last quarter. Lynx1 Capital Management LP acquired a new stake in shares of Allakos during the 4th quarter valued at approximately $4,390,000. RA Capital Management L.P. acquired a new stake in shares of Allakos during the 4th quarter valued at approximately $1,367,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Allakos by 20.5% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 936,797 shares of the company’s stock valued at $1,134,000 after purchasing an additional 159,095 shares during the period. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALLK has been the topic of a number of research analyst reports. Piper Sandler lowered Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Citizens Jmp lowered Allakos from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Allakos has a consensus rating of “Hold” and an average target price of $2.00.

Allakos Price Performance

NASDAQ:ALLK opened at $0.33 on Monday. The business’s 50-day moving average price is $0.30 and its 200 day moving average price is $0.64. The firm has a market cap of $29.74 million, a P/E ratio of -0.16 and a beta of 0.15. Allakos Inc. has a 52-week low of $0.22 and a 52-week high of $1.56.

Allakos Profile

Allakos Inc, a clinical stage biotechnology company, develops therapeutics that target immunomodulatory receptors present on immune effector cells in allergy, inflammatory, and proliferative diseases in the United States. The company’s lead product candidate is AK006, which in a Phase I clinical trial for the treatment of chronic spontaneous urticaria (CSU) and other indications.