Investing in Allakos Inc. (ALLK): What You Must Know


Allakos Inc.’s recently made public that its Director Walker Paul Edward acquired Company’s shares for reported $20.0 million on Sep 21. In the deal valued at $5.02 per share,3,984,000 shares were bought. As a result of this transaction, Walker Paul Edward now holds 3,386,400 shares worth roughly $ 19.64 million.

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Then, JANNEY DANIEL bought 475,000 shares, generating $2,384,500 in total proceeds. Upon buying the shares at $5.02, the Director now owns 2,546,147 shares.

SMBC Nikko downgraded its Allakos Inc. [ALLK] rating to an Underperform from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of -190.0 to its Friday closing price. A number of analysts have revised their coverage, including William Blair’s analysts, who decreased its forecast for the stock in late December from “an Outperform” to “a Mkt perform”. SVB Leerink also remained covering ALLK and has decreased its forecast on December 22, 2021 with a “Mkt perform” recommendation from previously “an Outperform” rating. Jefferies revised its rating on December 22, 2021. It rated ALLK as “a Hold” which previously was an “a Buy”.

Price Performance Review of ALLK

On Friday, Allakos Inc. [NASDAQ:ALLK] saw its stock fall -6.30% to $5.80. On the same session, the stock had its day’s lowest price of $5.755, but rose to a high of $6.26. Over the last five days, the stock has lost -7.35%. Allakos Inc. shares have fallen nearly -31.12% since the year began. Nevertheless, the stocks have risen 6.62% over the past one year. While a 52-week high of $8.73 was reached on 01/03/23, a 52-week low of $2.54 was recorded on 02/24/23. SMA at 50 days reached $7.24, while 200 days put it at $5.40. A total of 1.91 million shares were traded, compared to the trading of 0.9 million shares in the previous session.

Levels Of Support And Resistance For ALLK Stock

The 24-hour chart illustrates a support level at 5.62, which if violated will result in even more drops to 5.43. On the upside, there is a resistance level at 6.12. A further resistance level may holdings at 6.44. The Relative Strength Index (RSI) on the 14-day chart is 27.46, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.14%. Stochastics %K at 6.08% indicates the stock is a buying.

How much short interest is there in Allakos Inc.?

A steep rise in short interest was recorded in Allakos Inc. stocks on Jan 30, 2023, dropping by -0.28 million shares to a total of 2.7 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.98 million shares. There was a decline of -10.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.91% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.46.

Allakos Inc. [ALLK] – Who Are The Largest Shareholders?

In filings from Logos Global Management LP, it is revealed that the company now owns 5,286,666 shares, or roughly 6.21% of the outstanding ALLK shares. In other words, the investor’s shares have fallen by -650,000 from its previous 13-F filing of 5936666.0.. Over the last quarter, SSgA Funds Management, Inc. purchased 3,274,476 shares of Allakos Inc., while The Vanguard Group, Inc. bought -207,409 shares. At present, Redmile Group LLC is holding 2,545,275 shares valued at $18.91 million. Citadel Advisors LLC owned 2,016,991 shares of the company at the time of its most recent 13F filing, worth $14.99 million.

According to FactSet, Allakos Inc.’s share price will average $6.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.09 percent from its previous closing price of $6.19. Analysts expect Allakos Inc. stock to reach the higher price of $9.00, while the lowest price estimate is $4.00. However, 9 analysts have rated ALLK stock as a Hold in their predictions for 2023.


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