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Why Allakos Stock Skyrocketed 154% in August

TheMotleyFool

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Why Allakos Stock Skyrocketed 154% in AugustPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of clinical-stage biotech company Allakos (NASDAQ: ALLK) soared 154% in August, according to data from S&P Global Market Intelligence. For context, the S&P 500, including dividends, fell 1.6% last month.

In 2019, shares are up 63.6% through Sept. 6, versus the broader market's 20.5% return.

Allakos, which went public in mid-2018, is "developing therapeutic antibodies that selectively target immunomodulatory receptors present on the surface of immune effector cells involved in allergic, inflammatory, and proliferative diseases," according to its website. The company's initial focus is on rare stomach diseases.

Source Fool.com

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