Allakos Inc (NASDAQ:ALLK) Director John P. Mckearn sold 89,317 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $36.57, for a total value of $3,266,322.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ALLK stock opened at $37.65 on Friday. Allakos Inc has a fifty-two week low of $26.00 and a fifty-two week high of $65.48.
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in Allakos during the third quarter valued at about $56,000. Great West Life Assurance Co. Can bought a new position in Allakos during the fourth quarter valued at about $89,000. Metropolitan Life Insurance Co. NY boosted its stake in Allakos by 203.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,961 shares of the company’s stock valued at $155,000 after buying an additional 1,984 shares in the last quarter. Bank of America Corp DE boosted its stake in Allakos by 264.0% during the fourth quarter. Bank of America Corp DE now owns 4,153 shares of the company’s stock valued at $217,000 after buying an additional 3,012 shares in the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Allakos during the fourth quarter valued at about $262,000. 40.31% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Allakos from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, January 9th.
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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.
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