On Tuesday, Allakos Inc. (NASDAQ: ALLK) shares price traded between $38.56 and $42.83 during the last trading session above with +2.81% at $39.93. The shares recorded a trading volume 202,402 million shares as compared to its average volume of 375,892 shares. The company has 41.54M shares outstanding and market value of 1.659B. Over the one year trading period, the stock has a peak price of $45.95 and its down is recorded at $26.00. The short ratio in the stock is 2.15 and the short float is around of 7.02%.
Allakos Inc. (NASDAQ: ALLK) recently reported financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Financial Results
Research and development expenses were $7.1M in the second quarter of 2018 as contrast to $3.8M in the same period in 2017. The increase in research and development expenses was primarily related to a raise in consulting and personnel-related costs, as well as contract research and development activities related to the continued advancement of AK002, the Company’s lead antibody.
General and administrative expenses were $2.4M in the second quarter of 2018 as contrast to $0.8M in the same period in 2017. The increase in general and administrative expenses was primarily attributable to a raise in personnel-related costs as a result of the Company’s increase in employee headcount, as well as incremental expense incurred from outside professional service providers for legal, information technology, and investor relations support in preparation for the Company’s initial public offering.
Allakos stated a net loss of $9.4M in the second quarter of 2018 as contrast to $4.7M in the same period in 2017, a raise of $4.7M. Net loss per basic and diluted share was $4.17 for the second quarter of 2018 contrast to $3.18 in the same period in 2017. Net loss per basic and diluted share is based on a weighted-average number of shares outstanding in the period, and therefore, does not include shares sold in the Company’s initial public offering and concurrent private placement on July 23, 2018.
Allakos ended the second quarter of 2018 with $64.1M in cash, cash equivalents and marketable securities, which does not include $141.8M of proceeds, net of underwriting discounts and commissions, received from the Company’s initial public offering and concurrent private placement on July 23, 2018.
The average true range of Allakos Inc.’s (ALLK) is recorded at 2.34. The ALLK stock price is going above to its 52 week low with 53.58% and lagging behind from its 52 week high with -13.10%. Analyst recommendation for this stock stands at 1.80. A look on the firm performance, its monthly performance is -6.09%. The stock price is trading upbeat from its 200 days moving average with 2.65% and up from 50 days moving average with 2.65%.