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

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Allakos Inc. (ALLK) closed at $6.81 in the latest trading session, marking a -0.58% move from the prior day. This change lagged the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.16%.

Coming into today, shares of the company had lost 34.45% in the past month. In that same time, the Medical sector lost 9.62%, while the S&P 500 lost 5.39%.

Wall Street will be looking for positivity from Allakos Inc. as it approaches its next earnings report date. On that day, Allakos Inc. is projected to report earnings of -$1.18 per share, which would represent a year-over-year decline of 37.21%.

It is also important to note the recent changes to analyst estimates for Allakos Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.77% higher. Allakos Inc. currently has a Zacks Rank of #2 (Buy).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 40% 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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