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Allakos Inc. (ALLK) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Allakos Inc. (ALLK - Free Report) closed at $5.08, marking a -0.39% move from the previous day. This change lagged the S&P 500's daily gain of 2.14%. Meanwhile, the Dow gained 1.82%, and the Nasdaq, a tech-heavy index, lost 0.01%.

Heading into today, shares of the company had lost 18.01% over the past month, lagging the Medical sector's loss of 1.34% and the S&P 500's loss of 5.01% in that time.

Investors will be hoping for strength from Allakos Inc. as it approaches its next earnings release. On that day, Allakos Inc. is projected to report earnings of -$1.71 per share, which would represent a year-over-year decline of 64.42%.

Investors should also note any recent changes to analyst estimates for Allakos Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.39% lower. Allakos Inc. is currently a Zacks Rank #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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