Top 5 Biotech Stocks to Buy According to Jeremy Green’s Redmile Group

2. Allakos Inc. (NASDAQ:ALLK)

Redmile Group’s Stake Value: $225.7 million

Percentage of Redmile Group’s 13F Portfolio: 3.93%

Number of Hedge Fund Holders: 15

Allakos Inc. (NASDAQ:ALLK) is a California-based publicly traded and clinical-stage biopharmaceutical company that develops therapeutic treatments that are antibody-based and treat allergic and inflammatory diseases.

Among the hedge funds being tracked by Insider Monkey, 15 funds held stakes in Allakos Inc. (NASDAQ:ALLK) worth $378.21 million at the end of the third quarter, up from 12 funds having stakes worth $344.51 million in the previous quarter. Redmile Group decreased its activity in the company by 4% in the third quarter.

As per the filings of the third quarter, Redmile Group owned 2.13 million shares in Allakos Inc. (NASDAQ:ALLK) worth $225.7 million, representing 3.93% of the portfolio.