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Analyzing Allakos Inc.(NASDAQ: ALLK) Stock as a Disaster or Opportunity

In the last trading session, 6.58 million Allakos Inc. (NASDAQ:ALLK) shares changed hands as the company’s beta touched 0.49. With the company’s per share price at $2.50 changed hands at $0.02 or 0.81% during last session, the market valuation stood at $215.60M. ALLK’s last price was a discount, traded about -249.2% off its 52-week high of $8.73. The share price had its 52-week low at $2.32, which suggests the last value was 7.2% up since then. When we look at Allakos Inc.’s average trading volume, we note the 10-day average is 1.61 million shares, with the 3-month average coming to 994.31K.

Analysts gave the Allakos Inc. (ALLK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 1 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended ALLK as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Allakos Inc.’s EPS for the current quarter is expected to be -$0.45.

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Allakos Inc. (NASDAQ:ALLK) trade information

Instantly ALLK was in green as seen at the end of in last trading. With action -10.39%, the performance over the past five days has been red. The jump to weekly highs of 2.78 on Friday, 09/15/23 added 0.81% to the stock’s daily price. The company’s shares are showing year-to-date downside of -70.31%, with the 5-day performance at -10.39% in the red. However, in the 30-day time frame, Allakos Inc. (NASDAQ:ALLK) is -32.61% down. Looking at the short shares, we see there were 6.75 million shares sold at short interest cover period of 7.02 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.70, meaning bulls need an upside of 74.23% from its current market value. According to analyst projections, ALLK’s forecast low is $2.50 with $22.00 as the target high. To hit the forecast high, the stock’s price needs a -780.0% plunge from its current level, while the stock would need to tank 0.0% for it to hit the projected low.

Allakos Inc. (ALLK) estimates and forecasts

Data shows that the Allakos Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -54.55% over the past 6 months, a 64.23% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Allakos Inc. will rise 15.10%, while the growth in revenue is estimated to hit 8.00% for the next quarter.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -54.10%. The 2023 estimates are for Allakos Inc. earnings to decrease by -0.90%, but the outlook for the next 5-year period is at 26.70% per year.

ALLK Dividends

Allakos Inc. is expected to release its next quarterly earnings report between November 06 and November 10.

Allakos Inc. (NASDAQ:ALLK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 4.35% of Allakos Inc. shares while 89.56% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.62%. There are 89.56% institutions holding the Allakos Inc. stock share, with BVF Inc. the top institutional holder. As of Jun 29, 2023, the company held 9.95% of the shares, roughly 8.65 million ALLK shares worth $21.63 million.

NEA Management Company, LLC holds the second largest percentage of outstanding shares, with 7.07% or 6.15 million shares worth $15.37 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Price (T.Rowe) New Horizons Fund. With 3.08 million shares estimated at $7.69 million under it, the former controlled 3.54% of total outstanding shares. On the other hand, Price (T.Rowe) New Horizons Fund held about 2.41% of the shares, roughly 2.1 million shares worth around $5.25 million.

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