Orbimed Advisors LLC cut its stake in Allakos Inc (NASDAQ:ALLK) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,000 shares of the company’s stock after selling 25,000 shares during the period. Orbimed Advisors LLC’s holdings in Allakos were worth $9,147,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Allakos by 264.0% in the fourth quarter. Bank of America Corp DE now owns 4,153 shares of the company’s stock worth $217,000 after buying an additional 3,012 shares during the period. Barclays PLC increased its holdings in shares of Allakos by 1.4% in the fourth quarter. Barclays PLC now owns 28,086 shares of the company’s stock worth $1,468,000 after buying an additional 386 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of Allakos in the fourth quarter worth about $89,000. Northern Trust Corp increased its holdings in shares of Allakos by 3.7% in the fourth quarter. Northern Trust Corp now owns 112,903 shares of the company’s stock worth $5,902,000 after buying an additional 3,994 shares during the period. Finally, Citigroup Inc. increased its holdings in shares of Allakos by 1,120.1% in the fourth quarter. Citigroup Inc. now owns 28,234 shares of the company’s stock worth $1,476,000 after buying an additional 25,920 shares during the period. 41.21% of the stock is owned by hedge funds and other institutional investors.
ALLK opened at $39.67 on Tuesday. Allakos Inc has a 12 month low of $26.00 and a 12 month high of $65.48.
Separately, Zacks Investment Research upgraded Allakos from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th.
In related news, Director John P. Mckearn sold 142,219 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $34.49, for a total value of $4,905,133.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Venture Fund (Ohi Rivervest II sold 52,837 shares of the firm’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $42.63, for a total value of $2,252,441.31. The disclosure for this sale can be found here.
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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.
Further Reading: Technical Analysis
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