Allakos (NASDAQ:ALLK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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. “

Other analysts have also recently issued reports about the company. Goldman Sachs Group began coverage on Allakos in a research note on Monday, August 13th. They issued a “neutral” rating and a $31.00 target price on the stock. Jefferies Financial Group began coverage on Allakos in a research note on Monday, August 13th. They issued a “buy” rating and a $53.00 target price on the stock. Finally, William Blair began coverage on Allakos in a research note on Monday, August 13th. They issued an “outperform” rating on the stock.

Shares of ALLK traded down $0.79 during trading hours on Tuesday, hitting $54.53. The company had a trading volume of 3,233 shares, compared to its average volume of 145,145. Allakos has a 52-week low of $26.00 and a 52-week high of $61.21.

Allakos (NASDAQ:ALLK) last posted its earnings results on Thursday, November 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.10). On average, analysts predict that Allakos will post -1.23 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC bought a new stake in Allakos during the 3rd quarter valued at approximately $1,545,000. Strs Ohio bought a new stake in Allakos during the 3rd quarter valued at approximately $107,000. Penserra Capital Management LLC bought a new stake in Allakos during the 3rd quarter valued at approximately $509,000. Wells Fargo & Company MN bought a new stake in Allakos during the 3rd quarter valued at approximately $623,000. Finally, Victory Capital Management Inc. bought a new stake in Allakos during the 3rd quarter valued at approximately $1,360,000. 16.92% of the stock is currently owned by institutional investors and hedge funds.

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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